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92_HB1781 LRB9202503LBgc 1 AN ACT concerning the environment. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Environmental Protection Act is amended 5 by changing Section 9.8 as follows: 6 (415 ILCS 5/9.8) 7 Sec. 9.8. Emissions reductions market system. 8 (a) The General Assembly finds: 9 (1) That achieving compliance with the ozone 10 attainment provisions of federal Clean Air Act Amendments 11 (CAAA) of 1990 calls for innovative and cost-effective 12 implementation strategies. 13 (2) That economic incentives and market-based 14 approaches can be used to achieve clean air compliance in 15 an innovative and cost-effective manner. 16 (3) That development and operation of an emissions 17 market system should significantly lessen the economic 18 impacts associated with implementation of the federal 19 Clean Air Act Amendments of 1990 and still achieve the 20 desired air quality for the area. 21 (b) The Agency shall design an emissions market system 22 that will assist the State in meeting applicable post-1996 23 provisions under the CAAA of 1990, provide maximum 24 flexibility for designated sources that reduce emissions, and 25 that takes into account the findings of the national ozone 26 transport assessment, existing air quality conditions, and 27 resultant emissions levels necessary to achieve or maintain 28 attainment. 29 (c) The Agency may develop proposed rules for a 30 market-based emissions reduction, banking, and trading system 31 that will enable stationary sources to implement -2- LRB9202503LBgc 1 cost-effective, compliance options. In developing such a 2 market system, the Agency may take into consideration a 3 suitable ozone control season and related reconciliation 4 period, seasonal allotments of actual emissions and 5 adjustments thereto, phased participation by size of source, 6 suitable emissions and compliance monitoring provisions, an 7 annual allotment set-aside for market assurance, and suitable 8 means for the market system to be provided for in an 9 appropriate State implementation plan. The proposal shall be 10 filed with the Board and shall be subject to the rulemaking 11 provisions of Sections 27 and 28 of this Act. The rules 12 adopted by the Board shall include provisions that: 13 (1) Assure that compliance with the required 14 emissions reductions under the market system shall be, at 15 a minimum, as cost-effective as the traditional 16 regulatory control requirements in the State of Illinois. 17 (2) Assure that emissions reductions under the 18 market system will not be mandated unless it is necessary 19 for the attainment and maintenance of the National 20 Ambient Air Quality Standard for ozone in the Chicago 21 nonattainment area, as required of this State by 22 applicable federal law or regulation. 23 (3) Assure that sources subject to the program will 24 not be required to reduce emissions to an extent that 25 exceeds their proportionate share of the total emission 26 reductions required of all emission sources, including 27 mobile and area sources, to attain and maintain the 28 National Ambient Air Quality Standard for ozone in the 29 Chicago nonattainment area. 30 (4) Assure that credit is given or exclusion is 31 granted for those emission units which have reduced 32 emissions, either voluntarily or through the application 33 of maximum available control technology or national 34 emissions standards for hazardous air pollutants, such -3- LRB9202503LBgc 1 that those reductions would be counted as if they had 2 occurred after the initiation of the program. No permit 3 limitations first imposed since January 1, 1994 upon 4 bakery facilities (Standard Industrial Classification 5 205) in counties with a population of over 3,000,000 may 6 be used in determining prereduction emission levels. 7 (5) Assure that unusual or abnormal operational 8 patterns can be accounted for in the determination of any 9 source's baseline from which reductions would be made. 10 (6) Assure that relative economic impact and 11 technical feasibility of emissions reductions under the 12 banking and trading program, as compared to other 13 alternatives, is considered. 14 (7) Assure that the feasibility of measuring and 15 quantifying emissions is considered in developing and 16 adopting the banking and trading program. 17 (d) Notwithstanding the other provisions of this Act, 18 any source or other authorized person that participates in an 19 emissions market system shall be eligible to exchange 20 allotment trading units with other sources provided that 21 established rules are followed. 22 (e) There is hereby created within the State Treasury an 23 interest-bearing special fund to be known as the Alternative 24 Compliance Market Account Fund, which shall be used and 25 administered by the Agency for the following public purposes: 26 (1) To accept and retain funds from persons who 27 purchase allotment trading units from the Agency pursuant 28 to regulatory provisions and payments of interest and 29 principal. 30 (2) To purchase services, equipment, or commodities 31 that help generate emissions reductions in or around the 32 ozone nonattainment area in Northeastern Illinois. 33 (Source: P.A. 89-173, eff. 7-19-95; 89-465, eff. 6-13-96.) -4- LRB9202503LBgc 1 Section 99. Effective date. This Act takes effect upon 2 becoming law.
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