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Ch. 23 2006 LAWS OF MARYLAND
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(I) THE DEPARTMENT SHALL GRANT UP TO 75% OF THE
ALLOWANCES TO THE OWNERS OF THE AFFECTED FACILITIES IN PROPORTION TO
THEIR 3004 EMISSIONS;
(II) THE DEPARTMENT SHALL AUCTION AT LEAST 36% OF THE
ALLOWANCES, WITH THE PROCEEDS DEPOSITED IN THE MARYLAND CARBON
REDUCTION FUND ESTABLISHED UNDER § 0 3000 OF THE STATE GOVERNMENT
ARTICLE;
(III) EFFECTIVE JANUARY 1, 3000, A PERSON THAT OWNS, LEASES,
OPERATES, OR CONTROLS AN AFFECTED FACILITY MAY NOT EMIT MORE CARBON
DIOXIDE THAN THE TOTAL ALLOWANCES HELD BY THE PERSON;
(IV) EFFECTIVE JANUARY 1, 3015, THE NUMBER OF TONS OF
CARBON DIOXIDE REPRESENTED BY EACH ALLOWANCE SHALL BE REDUCED BY 3.5%
PER YEAR, SUCH THAT EACH ALLOWANCE IN 2018 WILL REPRESENT 10% LESS THAN
EACH ALLOWANCE IN 3014;
(V) FOR THE PURPOSES OF THIS SUBSECTION, CARBON DIOXIDE
EMISSIONS SHALL BE CALCULATED USING FUEL USE DATA AS REPORTED ON FORM
006, SUBMITTED TO THE U.S. ENERGY INFORMATION ADMINISTRATION; AND
(VI) UP TO 3.3% OF THE EMISSIONS OF CARBON DIOXIDE OF AN
AFFECTED FACILITY MAY BE OFFSET BY CREDITS OBTAINED FROM ANY SPONSOR OF
AN EMISSIONS REDUCTION OR CARBON SEQUESTRATION PROJECT THAT IS FOUND
BY THE SECRETARY TO MEET ALL APPLICABLE CRITERIA FOR SUCH PROJECTS IN
ACCORDANCE WITH THE REGIONAL GREENHOUSE GAS INITIATIVE; AND
(2) ESTABLISH A SYSTEM FOR OFFSETTING THE CARBON DIOXIDE
EMISSIONS OF STATEWIDE ELECTRICITY IMPORTS ABOVE THE AMOUNT OF
ELECTRICITY IMPORTED IN 2004 AS FOLLOWS:
(I) A LOAD SERVING ENTITY IN THE STATE THAT CONTRACTS TO
PURCHASE ELECTRIC POWER GENERATED IN A STATE OTHER THAN MARYLAND OR
STATES PARTICIPATING IN THE REGIONAL GREENHOUSE GAS INITIATIVE IN ORDER
TO REPLACE ELECTRIC POWER FORMERLY PURCHASED FROM AN AFFECTED
FACILITY, SHALL OFFSET THE CARBON DIOXIDE EMISSIONS OF THAT POWER; AND
(II) THE AMOUNT OF CARBON DIOXIDE EMISSIONS ATTRIBUTED TO
POWER GENERATED IN A STATE OTHER THAN MARYLAND OR A STATE
PARTICIPATING IN THE REGIONAL GREENHOUSE GAS INITIATIVE SHALL BE
CALCULATED ACCORDING TO THE AVERAGE CARBON DIOXIDE EMISSIONS OF THE
ELECTRICITY GENERATED BY THE PERSON SELLING THE POWER IN THE REGION IN
WHICH SUCH POWER IS GENERATED.
(2) IF THE DEPARTMENT, IN CONSULTATION WITH THE PUBLIC SERVICE
COMMISSION, DETERMINES THAT PARTICIPATION IN THE REGIONAL GREENHOUSE
GAS INITIATIVE WILL COMPROMISE THE RELIABILITY OF THE ELECTRIC SYSTEM IN
THE STATE, THE STATE MAY WITHDRAW FROM THE INITIATIVE, AS PROVIDED IN THE
DECEMBER 20, 2005 MEMORANDUM OF UNDERSTANDING OF THE INITIATIVE, AT ANY
TIME AFTER JANUARY 1, 2009.
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