Relating to low carbon fuel standards; prescribing an effective date.

Requires Environmental Quality Commission to adopt by rule program for facilitating compliance with low carbon fuel standards. Requires program to include certain provisions for managing and containing costs of compliance with low carbon fuel standards, including but not limited to provisions for purchase and use of compliance credits. Provides for Department of Environmental Quality to enter into agreements with nongovernmental entities to serve as compliance credit generators. Sets forth required terms of agreement. Requires compliance credit generators to use funds received through transfer of compliance credits for certain purposes. Provides for expedited review of compliance credit generator provisions by Supreme Court upon petition by adversely affected party. Provides that if court makes certain determination on or before January 1, 2021, compliance credit generator provisions are repealed and provisions of Act are enacted in lieu thereof that establish Transportation Emissions Reduction Account in State Highway Fund, require department to sell compliance credits and require department to deposit funds received for transfer of compliance credits in account. Specifies uses of account. Provides that compliance credit generator provisions become operative January 1, 2018. Takes effect on 91st day following adjournment sine die.