Bill Type
Congress Name
Long Title
AN ACT TO PROMOTE A LOW CARBON ECONOMY ESTABLISHING FOR THIS PURPOSE THE EMISSION CAP-AND-TRADE SYSTEM IN THE INDUSTRY SECTOR TO REDUCE GREENHOUSE GAS EMISSIONS AND PROTECT THE CLIMATE
Date filed
May 5, 2008
Scope
Legislative History
| House Bill/Resolution NO. HB04050 |
| FULL TITLE : AN ACT TO PROMOTE A LOW CARBON ECONOMY ESTABLISHING FOR THIS PURPOSE THE EMISSION CAP-AND-TRADE SYSTEM IN THE INDUSTRY SECTOR TO REDUCE GREENHOUSE GAS EMISSIONS AND PROTECT THE CLIMATE |
| SHORT TITLE : "Low Carbon Economy Act" |
| ABSTRACT : Authorizes the Departments of Environment and Natural Resources and Trade and Industry to set a cap on the greenhouse gas emissions of companies. Allows the companies to trade credits with each other, i.e., companies with excess greenhouse gas emissions may buy allowances from the market while companies with less greenhouse gas emissions may sell their allowances to the market. |
| PRINCIPAL AUTHOR/S : ARROYO, IGNACIO T. |
| DATE FILED : 2008-05-05 |
| SIGNIFICANCE: NATIONAL |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON ECOLOGY ON 2008-05-07 |
| SECONDARILY REFERRED TO THE COMMITTEE(S) ON APPROPRIATIONS |
Abstract
Authorizes the Departments of Environment and Natural Resources and Trade and Industry to set a cap on the greenhouse gas emissions of companies. Allows the companies to trade credits with each other, i.e., companies with excess greenhouse gas emissions may buy allowances from the market while companies with less greenhouse gas emissions may sell their allowances to the market.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.