MD SB373

Requires the Governor to immediately withdraw Maryland from the Regional Greenhouse Gas Initiative (RGGI), a multi-state cap-and-trade program for carbon dioxide emissions from power plants

Removes RGGI allowance auction proceeds as a funding source for the Maryland Strategic Energy Investment Fund, which currently allocates at least 50% to energy assistance programs and 20% each to efficiency programs and renewable energy initiatives

Eliminates statutory provisions requiring manufacturers to comply with greenhouse gas emission reductions tied to RGGI implementation

Requires the Governor to report to the General Assembly within 30 days of withdrawal, explaining why participation ceased and presenting a plan to reduce power plant carbon dioxide emissions

Takes effect June 1, 2026, with key provisions contingent on actual withdrawal from RGGI and receipt of the Governor's report by June 1, 2031