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SB 373

Environment - Regional Greenhouse Gas Initiative - Withdrawal (Restoring Energy Freedom Act)

2026 Regular Session Introduced by Steve Hershey and 1 co-sponsor

Maryland bill to withdraw from multi-state carbon emissions trading program (RGGI), eliminating ~$100M+ annual clean energy funding and potentially complicating climate goals.

Hearing 2/19 at 1:00 p.m.
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Bill Summary · SB 373

Legislative bill overview

SB 373 proposes that Maryland withdraw from the Regional Greenhouse Gas Initiative (RGGI), a multi-state cap-and-trade program that limits carbon dioxide emissions from power plants. The bill, titled the "Restoring Energy Freedom Act," would end Maryland's participation in this interstate emissions trading system effective upon passage.

Why is this important

Maryland's RGGI membership generates substantial state revenue through carbon allowance auctions—approximately $100+ million annually in recent years—which funds clean energy programs and grid modernization. Withdrawal would eliminate this funding stream and reduce coordinated regional efforts to lower power sector emissions, potentially affecting Maryland's ability to meet state and federal climate goals while shifting environmental costs to other RGGI states.

Potential points of contention

  • Revenue loss: Elimination of RGGI auction revenues dedicated to clean energy investments and ratepayer benefits, requiring alternative funding sources or program cuts
  • Climate commitments: Conflict with Maryland's statutory greenhouse gas reduction targets and Clean Energy Jobs Act goals, potentially requiring costlier alternative compliance mechanisms
  • Regional coordination: Withdrawal reduces the scale and cost-effectiveness of regional emissions reductions, placing greater burden on remaining RGGI states and undermining interstate cooperation on air quality
  • Economic framing: Debate over whether RGGI represents genuine environmental policy or energy market interference, with disagreement on actual consumer rate impacts

Compiled from official sources — confirm details with the bill’s official record.

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