Posted: Nov 13, 2012 3:28 PM by CJ, The Associated Press
SAN FRANCISCO (AP) - California's largest business group has filed a lawsuit challenging the validity of the state's cap-and-trade program on the eve of the plan's first pollution permit auction.
The California Chamber of Commerce filed the lawsuit Tuesday in Sacramento Superior Court.
It was not expected to halt Wednesday's auction.
The suit challenges the California Air Resources Board's authority under the state's 2006 climate-change law to sell the permits, called "allowances," for the purpose of generating revenue for the state.
The plan places a cap on emissions from individual polluters - businesses are required to cut emissions to cap levels or buy allowances from other companies for each ton discharged over the cap annually.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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