AZ HB2623

Requires the Arizona Department of Environmental Quality to establish separate carbon dioxide emissions standards for existing coal-fired and natural gas-fired electrical generating units through rulemaking.

Permits flexible compliance mechanisms including emissions averaging, emissions trading, and alternative implementation measures for meeting the carbon dioxide standards.

Prohibits the department from submitting any carbon dioxide emissions reduction plan to the EPA that is inconsistent with the standards established under this legislation.

Directs the department to consider economic factors when setting standards, including consumer impacts on lower-income populations, compliance costs, plant age and location, remaining useful life of units, job losses, and other unit-specific factors.

Allows the department to adopt less stringent standards or longer compliance schedules than federal rules based on specified economic and operational considerations.