6058-S2.E AMH DYEM H3466.2
E2SSB 6058 - H AMD TO APP COMM AMD (H-3450.1/24) 1134
By Representative Dye
NOT ADOPTED 02/29/2024
On page 37, line 6, after "(c)" insert "(i) Be determined by the department, based on economic analysis of the proposed linkage agreement, to not result in allowance prices under this chapter that exceed the highest auction settlement price that occurred at any single auction during calendar year 2023. The economic analysis must be based on a forecast of potential linking jurisdiction allowance prices under current program stringency through 2030 and a model of program stringency that assumes program stringency levels are increased through 2030 in a manner consistent with plans outlined in the most current scoping plan, rule-making proposal, or rule of each potential linking jurisdiction; and
(ii) Provide an automatic process for the withdrawal of Washington's program from the linkage agreement if the allowance prices under this chapter sold at auction exceed the highest auction settlement price that occurred at any single auction during calendar year 2023;
(d)"
Reletter the remaining subsection consecutively and correct any internal references accordingly.
EFFECT: Requires the department of ecology, as a condition of entering into a linkage agreement, to determine that the linkage agreement will not result in allowance prices that are higher than those that occurred during a single allowance auction that occurred in calendar year 2023. Requires this determination to be based on an economic analysis that forecasts potential linking jurisdiction allowance prices under current program stringency through 2030 and under a model that assumes program stringency requirements are increased through 2030 in a manner consistent with current scoping plans, rule-making proposals, or rules or potential linking jurisdictions. Requires linkage agreements to provide an automatic process for Washington's withdrawal from a linkage agreement if the allowance prices exceed those that occurred during a single allowance auction that occurred in calendar year 2023.
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