HB 397

Clean energy and community flood preparedness; market-based trading program. Directs the Director of the Department of Environmental Quality to establish, implement, and manage an auction program to sell allowances into a market-based trading program consistent with the Regional Greenhouse Gas Initiative and the Clean Energy and Community Flood Preparedness Act. Under current law, the Director is authorized but not required to establish, implement, and manage such auction program. The bill requires certain regulatory actions necessary for the Commonwealth to rejoin the Regional Greenhouse Gas Initiative and resume participation therein.