Drafter
Clerk 08/22/24
Title
A MOTION expressing the King County council's opposition to the approval of Washington state Initiative 2117, which, if approved by voters, would repeal sections of the Climate Commitment Act and prohibit state agencies from implementing any type of carbon tax credit trading.
Body
WHEREAS, Washington state Initiative 2117, which, if approved by the voters, would repeal sections of the Climate Commitment Act and prohibit state agencies from implementing any type of carbon tax credit trading, will be before Washington state voters in the general election on November 5, 2024, and
WHEREAS, in 2021, Chapter 316, Laws of Washington 2021, known as the Washington Climate Commitment Act, was enacted, which sets annual emission limits for major emitters, such as oil refineries and utilities, and establishes a market-based program, which is a cap-and-invest program, to reduce carbon pollution and achieve greenhouse gas limits set in Washington state law, and
WHEREAS, the Washington Climate Commitment Act requires revenues raised from the auction of emissions allowances must be re-invested into projects and grants that help to achieve state climate change mitigation and resilience goals, and
WHEREAS, the Washington Climate Commitment Act requires that a minimum of 35 percent of auction revenue be used for projects that directly benefit vulnerable populations with overburdened communities and Initiative 2117 would eliminate the revenue source for these projects, and
WHEREAS, during the 2023 and 2024 legislative sessions, state lawmakers allocated about $2.8 billion of anticipated revenue from the Climate Commitment Act to climate programs across the state and Initiative 2117 would eliminate the revenue source for these programs, and
WHEREAS, revenues from the Climate Commitment Act advance or directly support King County in meeting its climate operational goals set forth in the Strategic Climate Action Plan, adopted by Motion 15866. Clima...

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