SB 748

Abstract

Requires Environmental Quality Commission to adopt carbon pollution permit program by rule. Requires commission to consult with certain interested persons and be advised by advisory committee in adopting rules. Establishes Carbon Pollution Permit Program Oversight Committee. Declares legislative purposes of carbon pollution permit program. Provides for distribution of moneys received from fees and penalties under carbon pollution permit program. Establishes Climate Investments Account in State Highway Fund. Establishes Climate Assistance Fund, Oregon Climate Investments Fund and Just Transition Fund. Provides for uses of moneys in funds established. Establishes certain committees and proscribes duties of committees related to uses of moneys in funds established. Becomes operative January 1, 2021. Authorizes Environmental Quality Commission and Oregon Business Development Department to adopt rules prior to operative date. Declares emergency, effective on passage.