Today, the Court of Appeals of the State of California for the Third Appellate District announced it is scheduling oral arguments in the California Chamber of Commerce v. State Air Resources Board lawsuit.
The hearing will take place on January 24, 2017 at 9:30 am.
The California Chamber of Commerce lawsuit argues that auctioning of State-owned allowances is illegal because it is a fee or a tax that requires a two-thirds legislative majority under State law. The issue has been before the court for more than a year, and the market has been anticipating the scheduling of a hearing on the matter.
We will continue to keep you posted on further developments in the case. If you have questions regarding the California carbon market, please contact our US Carbon team at: 415.963.9138 or 914.323.0265.