H259 - 2023 Appropriations Act. (SL 2023-134)

Overview: Section 12.5 of S.L. 2023-134 creates a new statute that prohibits the Governor, and any agency of the State, from requiring that an electric public utility (or persons who operate an electric generating facility the primary purpose of which is for the person's own use and not for the primary purpose of producing electricity for sale to or for the public for compensation) participate in a program that requires the utility or person to obtain allowances to offset their CO2 emissions, commonly characterized as emissions cap-and-trade programs, CO2 budget trading programs, or cap-and-invest initiatives. In addition, the statute expressly prohibits the Governor and the Department of Environmental Quality from entering into any agreement with other states obligating North Carolina's participation in any program requiring acquisition of allowances to offset CO2 emissions by such utilities.

This section became effective October 3, 2023.