You concern is not with the law itself, but with the legislature's inability to pass it, right? 

To me, the proposed law itself looks like a no brainer, at least. It really seems pretty smart and well-thought out, about as much as we can expect from a government dominated, historically, by extractive industries, ranchers and farmers and the laissez faire policies they favor.

Indeed it makes provision for the very sort of market-driven emission/pollution controls that liberals always offer to entice conservatives to stop destroying the living planet and the human future on it.