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Bill

S 4570

Withdraws New Jersey's participation in Regional Greenhouse Gas Initiative; repeals "Global Warming Response Act" and related sections of Regional Greenhouse Gas Initiative implementing law.

2024-2025 Regular Session Introduced by Tony Bucco and 4 co-sponsors

Bill withdraws New Jersey from RGGI carbon market program and repeals climate legislation, eliminating $300M+ annual clean energy funding while reversing state emissions limits.

Introduced in the Senate, Referred to Senate Environment and Energy Committee
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Bill Summary · S 4570

Legislative bill overview

S 4570 would withdraw New Jersey from the Regional Greenhouse Gas Initiative (RGGI), a multi-state cap-and-trade program that limits carbon dioxide emissions from power plants. The bill would also repeal the state's "Global Warming Response Act" and related statutory provisions implementing RGGI requirements.

Why is this important

RGGI generates substantial revenue for New Jersey—approximately $300+ million annually in recent years—through the auction of carbon emission allowances, which funds clean energy programs, energy efficiency initiatives, and climate resilience projects. Withdrawal would eliminate this revenue stream and reverse New Jersey's participation in a major climate policy framework while potentially affecting the state's energy market structure and interstate environmental coordination.

Potential points of contention

  • Revenue impact: Loss of hundreds of millions in annual funding could require cuts to clean energy programs, energy efficiency investments, and climate adaptation measures, or necessitate alternative funding sources
  • Climate policy alignment: Contradicts New Jersey's stated climate goals (net-zero by 2050) and existing commitments under state environmental law; creates tension with federal and regional decarbonization efforts
  • Economic and market effects: May affect energy prices, grid operations, and interstate commerce; could impact competitive positioning relative to neighboring RGGI states and influence business investment decisions in the state

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

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