HB 2119-S - DIGEST

(SUBSTITUTED FOR - SEE 2ND SUB)

Finds that: (1) It is in the best interest of the state of Washington, the United States of America, and the earth as a whole, to encourage voluntary actions to achieve all economically beneficial reductions of greenhouse gas emissions from Washington sources.

(2) Mandatory reductions of greenhouse gas emissions may eventually be imposed on Washington sources, and, consequently, the state has a responsibility to use its best efforts to ensure that organizations that voluntarily reduce their emissions receive appropriate consideration for reductions in emissions made before mandatory programs are implemented.

(3) Past programs in the state that took early and responsible action to reduce pollution and to save energy have demonstrated political, economic, and technological leadership, have benefited the state, and have saved taxpayers, business owners, and homeowners significant amounts of money.

(4) The state's tradition of environmental and energy leadership should be recognized by establishing a registry to provide documentation of reductions in greenhouse gas emissions that are voluntarily achieved by sources within the state.

(5) Greenhouse gas emissions exchanges are being established with the ability to buy and sell the rights to emissions reduction credits. Washington sources will benefit as mature traders in these markets in the future by early participation.

Provides that, by July 1, 2005, and biennially thereafter, the center shall report to the governor and the appropriate committees of the legislature on the number of organizations participating in the registry, the percentage of the state's emissions represented by the participants in the registry, and the reductions in greenhouse gas emissions achieved by those participants.

Provides that, if a mandatory federal greenhouse gas emissions registry is enacted, the director of the center will report back to the legislature as soon as practical on any conflicts with this act.