RELATING TO TAXATION OF POLLUTION.

HB1375

HOUSE OF REPRESENTATIVES

H.B. NO.

1375

THIRTY-THIRD LEGISLATURE, 2025

STATE OF HAWAII

A BILL FOR AN ACT

RELATING
TO TAXATION of pollution
.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

����
SECTION 1.
�
The goal of
this Act is to reduce Hawaii's greenhouse gas emissions in furtherance of the
State's zero emissions clean economy target established in Act 15, Session Laws
of Hawaii 2018, and to provide financial relief in a progressive manner to the
residents of the State.
�
To achieve this
goal, this Act establishes a carbon cashback program that utilizes:

����
(1)
�
The
environmental response, energy, and food security tax to reduce greenhouse gas
emissions; and

����
(2)
�
Refundable
tax credits to distribute the proceeds of the tax in equal shares to taxpayers
of the State, who will bear the brunt of the expected increase in costs of
fossil fuel products.

����
One of the tools available for reducing
greenhouse gas emissions is to tax fossil fuels.
�
When the tax is sufficient, it has been
proven to be effective in substantially reducing consumption.
�
Hawaii has a thirty-year history of assessing
a tax on fossil fuel distributors for fossil fuel distribution in the State.
�
However, the existing tax rate is not
designed to reduce consumption, but rather to generate funding to mitigate some
of the risks and adverse impacts of fossil fuel use and climate change.
�
This Act raises the tax in increments,
gradually increasing its effect in reducing the consumption of fossil fuels.

����
The environmental response tax was
established by Act 300, Session Laws of Hawaii 1993.
�
Initially, the tax rate for petroleum
products was five cents per barrel.
�
The
tax revenue was used to:

����
(1)
�
Prevent,
remove, and remediate oil spills;

����
(2)
�
Support
oil recycling programs; and

����
(3)
�
Address
concerns related to underground storage tanks.

Later, Act
73, Session Laws of Hawaii 2010, increased the tax to $1.05 per barrel and
renamed the tax the environmental response, energy, and food security tax.
�
Act 73 also expanded the purpose of the tax
by funding activities that mitigate the adverse impacts of climate change.

����
The legislature finds that a policy that
taxes fossil fuels based on their emissions, often called a carbon tax, and
returns to people the revenues, commonly known as dividends, has received broad
support from economists.
�
More than three
thousand six hundred economists have signed a statement endorsing the carbon
tax and dividend concept, including twenty‑eight Nobel Laureate
economists, four former Chairs of the Federal Reserve, and fifteen former
Chairs of the Council of Economic Advisors.

����
The statement reads, in part, "[a]
carbon tax offers the most cost-effective lever to reduce carbon emissions at
the scale and speed that is necessary."
�

The statement goes on to say that the carbon tax should be increased
until emission reduction goals are met.
�

It continues by stating, "[t]o maximize the fairness and political
viability of a rising carbon tax, all the revenue should be returned directly
to U.S. citizens through equal lump-sum rebates.
�
The majority of American families, including
the most vulnerable, will benefit financially by receiving more in 'carbon
dividends' than they pay in increased energy prices."

����
In accordance with Act 122, Session Laws of
Hawaii 2019, the state energy office commissioned "a study of carbon
pricing, including whether and how a carbon pricing policy shall be implemented
in Hawaii".
�
In April 2021, the
University of Hawaii Economic Research Organization (UHERO) completed the study
in April 2021, entitled, "Carbon Pricing Assessment for Hawaii:
�
Economic and Greenhouse Gas Impacts".
�
The study concluded that a carbon tax and
dividend policy would substantially reduce the consumption of fossil fuels, and
most of Hawaii's households would receive a net financial benefit, with
lower-income households gaining the most.

����
This Act expands the purpose of the
environmental response, energy, and food security tax in order to effectively
reduce greenhouse gas emissions, and renames the tax as the environmental
response, energy, carbon emissions, and food security tax.
�
The increase in the tax under this Act is
informally referred herein as the "carbon emissions tax" for
descriptive purposes and to distinguish it from the existing tax rate.
�
The carbon emissions tax rates are derived
from the low tax scenario considered in the UHERO study, updated for
inflation.
�
The tax rates in the UHERO
study, which are expressed in dollars per metric ton of carbon dioxide
equivalent, are converted to the units used in the environmental response,
energy, carbon emissions, and food security tax, which are dollars per barrel
for petroleum products and dollars per million British thermal units for other
types of fossil fuels, such as natural gas.
�

The carbon dioxide equivalent factors for petroleum and non-petroleum
fossil fuels include the emissions of carbon dioxide, methane, and nitrous
oxide.
�
These emission factors are taken
from the United States Environmental Protection Agency's Emission Factors for
Greenhouse Gas Inventories (modified April 1, 2021).

����
The progression of the increase in the
carbon emissions tax differs from that which is considered in the UHERO study
by starting lower in the initial year to avoid a sudden large increase in
prices, then increasing until the tenth year of implementation, when it
approximates the rate considered in the UHERO study at that point.
�
From that year forward, the annual increase
in the tax only accounts for expected inflation.
�
Each year, taxpayers of the State will
receive, in the form of refundable tax credits, a total amount equivalent to
the expected carbon emissions tax revenue from the previous year, less an
amount needed to administer the program, including a public awareness
campaign.
�
Every individual taxpayer will
be eligible for the same refundable tax credit in any particular year, and
every dependent will be eligible for half that amount.

����
The following illustrates how the carbon
emissions tax and refundable tax credits will progress.
�
In the first year of implementation, 2026,
the carbon emissions tax is $0.05 per gallon for petroleum products, and the
refundable tax credit is $40 per individual taxpayer and $20 per dependent,
available the following year when the tax return is filed.
�
In the fifth year, 2030, the carbon emissions
tax is $0.40 per gallon, and the refundable tax credit is $283 per individual
taxpayer and $141 per dependent.
�
In 2035,
when the refundable tax credit peaks, the carbon emissions tax is $0.90 per
gallon, and the refundable tax credit is $473 per individual taxpayer and $237
per dependent.

����
This Act also reenacts the agricultural
development and food security special fund, which was repealed in 2021.
�
At that time, the State found itself in a
budget crisis due to a reduction in the general fund, as a result of the coronavirus
disease 2019 (COVID-19) pandemic.
�
Moneys
from the repealed agricultural development and food security special fund were
used to fortify the general fund.
�
The
legislature finds that the State is now in a more stable financial
condition.
�
The legislature further finds
that agriculture and food security are just as critical to Hawaii's future as
ever, and for those reasons the special fund is reenacted.

����
Accordingly, the purpose of this Act is to:

����
(1)
�
Establish
a carbon cashback program by:

����
����
(A)
�
Amending the environmental response, energy,
and food security tax to address carbon emissions; and

����
����
(B)
�
Establishing a refundable tax credit to
mitigate the effect of the tax on carbon emissions for Hawaii's taxpayers; and

����
(2)
�
Reenact
the agricultural development and food security special fund.

����
SECTION 2.
�

Chapter 141, Hawaii Revised Statutes, is amended by adding a new section
to be appropriately designated and to read as follows:

����
"
�141-
��
��
Agricultural
development and food security special fund; establishment.
�
(a)
�
There is established within the state
treasury the agricultural development and food security special fund.

����
(b)

�
The following moneys shall be deposited
into the special fund:

����
(1)
�
The
portion of the environmental response, energy, carbon emissions, and food
security tax specified under section 243-3.5;

����
(2)
�
Any
appropriation by the legislature into the special fund;

����
(3)
�
Any
grant or donation made to the special fund; and

����
(4)
�
Any
interest earned on the balance of the special fund.

����
(c)

�
Subject to legislative appropriation,
moneys in the special fund may be expended for the following purposes:

����
(1)
�
The
awarding of grants to farmers for agricultural production or processing
activity;

����
(2)
�
The
acquisition of real property for agricultural production or processing
activity;

����
(3)
�
The
improvement of real property, irrigation systems, and transportation networks
necessary to promote agricultural production or processing activity;

����
(4)
�
The
purchase of equipment necessary for agricultural production or processing
activity;

����
(5)
�
The
conduct of research on and testing of agricultural products and markets;

����
(6)
�
The
funding of agricultural inspector positions within the department of
agriculture;

����
(7)
�
The
promotion and marketing of agricultural products grown or raised in the State;
and

����
(8)
�
Any
other activity that is intended to increase agricultural production or
processing and that may lead to reduced importation of food, fodder, or feed
from outside the State.

����
(d)

�
No later than twenty days prior to the
convening of each regular session, the department of agriculture shall submit a
report to the legislature on the status and progress of existing programs and
activities and the status of new programs and activities funded under the
agricultural development and food security special fund.
�
The report shall also include:

����
(1)
�
The
spending plan of the agricultural development and food security special fund;

����
(2)
�
All
expenditures of agricultural development and food security special fund moneys;

����
(3)
�
The
targeted markets of the expenditures, including reasons for selecting those
markets;

����
(4)
�
The
persons to be served using the expenditures; and

����
(5)
�
The
specific objectives of the expenditures, including measurable outcomes.
"

����
SECTION 3.
�

Chapter 231, Hawaii Revised Statutes, is amended by adding a new section
to be appropriately designated and to read as follows:

����
"
�231-
��
��
Carbon
emissions tax and dividend special fund.
�
(a)
�
There is established the carbon emissions tax
and dividend special fund, into which shall be deposited the amount specified
by section 243-3.5.

����
(b)
�
Moneys in the carbon emissions tax and
dividend special fund shall be administered by the department of taxation and
shall be expended for salaries, contracted services, supplies, and other
administrative expenses to:

����
(1)
�
Administer
the environmental response, energy, carbon emissions, and food security tax;

����
(2)
�
Administer
the refundable tax credits established by section 235-
��
; and

����
(3)
�
Increase
public awareness and interest in the refundable tax credits established by
section 235- .
"

����
SECTION 4.
�

Chapter 235, Hawaii Revised Statutes, is amended by adding a new section
to part III to be appropriately designated and to read as follows:

����
"
�235-
��
��
Carbon
cashback tax credit.
�
(a)
�

There shall be allowed to each qualifying taxpayer subject to the tax
imposed under this chapter, a carbon cashback tax credit that shall be applied
against the taxpayer's net income tax liability, if any, imposed by this
chapter for the taxable year in which the credit is properly claimed.

����
(b)
�
The amount of the tax credit shall be equal
to the sum of the following:

����
(1)
�
Amount
based on taxpayer's filing status:

���������
(A)
�
For taxpayers filing as single or married filing separately:

�������������
$40 for 2026

�������������
$80 for 2027

�������������
$154 for 2028

�������������
$222 for 2029

�������������
$283 for 2030

�������������
$335 for 2031

�������������
$380 for 2032

�������������
$418 for 2033

�������������
$449 for 2034

�������������
$473 for 2035

�������������
$473 for 2036

�������������
$471 for 2037

�������������
$469 for 2038

�������������
$466 for 2039

�������������
$462 for 2040

�������������
$442 for 2041

�������������
$421 for 2042

�������������
$397 for 2043

�������������
$373 for 2044

�������������
$346 for 2045;

���������
(B)
�
For taxpayers filing as a head of household:

�������������
$40 for 2026

�������������
$80 for 2027

�������������
$154 for 2028

�������������
$222 for 2029

�������������
$283 for 2030

�������������
$335 for 2031

�������������
$380 for 2032

�������������
$418 for 2033

�������������
$449 for 2034

�������������
$473 for 2035

�������������
$473 for 2036

�������������
$471 for 2037

�������������
$469 for 2038

�������������
$466 for 2039

�������������
$462 for 2040

�������������
$442 for 2041

�������������
$421 for 2042

�������������
$397 for 2043

�������������
$373 for 2044

�������������
$346 for 2045; and

���������
(C)
�
For taxpayers filing a joint return or as a surviving spouse:

�������������
$83 for 2026

�������������
$161 for 2027

�������������
$309 for 2028

�������������
$444 for 2029

�������������
$565 for 2030

�������������
$670 for 2031

�������������
$760 for 2032

�������������
$836 for 2033

�������������
$898 for 2034

�������������
$946 for 2035

�������������
$946 for 2036

�������������
$943 for 2037

�������������
$939 for 2038

�������������
$932 for 2039

�������������
$925 for 2040

�������������
$885 for 2041

�������������
$841 for 2042

�������������
$795 for 2043

�������������
$745 for 2044

�������������
$693 for 2045; and

����
(2)
�
Amount
per dependent claimed:

���������
$20 for 2026

���������
$40 for 2027

���������
$77 for 2028

���������
$111 for 2029

���������
$141 for 2030

���������
$167 for 2031

���������
$190 for 2032

���������
$209 for 2033

���������
$225 for 2034

���������
$237 for 2035

���������
$236 for 2036

���������
$236 for 2037

���������
$235 for 2038

���������
$233 for 2039

���������
$231 for 2040

���������
$221 for 2041

���������
$210 for 2042

���������
$199 for 2043

���������
$186 for 2044

���������
$173 for 2045.

����
(c)
�
If the tax credit claimed by the taxpayer
under this section exceeds the amount of the income tax payments due from the
taxpayer, the excess of credit over payments due shall be refunded to the
taxpayer; provided that the tax credit properly claimed by a taxpayer who has no
income tax liability shall be paid to the taxpayer; and provided further that
no refunds or payments on account of the tax credit allowed by this section
shall be made for amounts less than $1.

����
All claims for the tax credit under this section, including
amended claims, shall be filed on or before the end of the twelfth month
following the close of the taxable year for which the credit may be
claimed.
�
Failure to comply with the
foregoing provision shall constitute a waiver of the right to claim the credit.

����
(d)
�
The director of
taxation:

����
(1)
�
Shall
prepare any forms that may be necessary to claim a tax credit under this
section;

����
(2)
�
May require
the taxpayer to furnish reasonable information to ascertain the validity of the
claim for the tax credit made under this section; and

����
(3)
�
May adopt
rules under chapter 91 necessary to effectuate the purposes of this section.

����
(e)
�

All of the provisions relating to assessments and refunds under this
chapter and under section 231-23(c)(1) shall apply to the tax credit under this
section.

����
(f)
�

As used in this section, "qualifying taxpayer" means a person
subject to the taxes imposed by this chapter.
�

"Qualifying taxpayer" shall not include any person who is
claimed or is otherwise eligible to be claimed as a dependent by another
taxpayer for federal or Hawaii state individual income tax purposes.
"

����
SECTION
5
.
�
Section 128D-2, Hawaii Revised Statutes, is
amended by amending subsection (a) to read as follows:

����
"(a)
�

There is created within the state treasury an environmental response
revolving fund, which shall consist of moneys appropriated to the fund by the
legislature, moneys paid to the fund as a result of departmental compliance
proceedings, moneys paid to the fund pursuant to court-ordered awards or
judgments, moneys paid to the fund in court-approved or out‑of‑court
settlements, all interest attributable to investment of money deposited in the
fund, moneys
deposited
in the fund from the environmental response, energy,
carbon emissions,
and
food security tax pursuant to section 243-3.5, and moneys allotted to the fund
from other sources.
"

����
SECTION
6
.
�
Section 201-12.8, Hawaii Revised Statutes, is
amended by amending subsection (a) to read as follows:

����
"
(a)
�

There is created within the state treasury an energy security special
fund, which shall consist of:

����
(1)
�
The
portion of the environmental response, energy,
carbon emissions,
and
food security tax specified under section 243-3.5;

����
(2)
�
Moneys
appropriated to the fund by the legislature;

����
(3)
�
All
interest attributable to investment of money deposited in the fund; and

����
(4)
�
Moneys
allotted to the fund from other sources, including under section 196-6.5."

����
SECTION
7
.
�
Section 243-3.5, Hawaii Revised Statutes, is
amended to read as follows:

����
"
�243-3.5
�
Environmental response
, energy,
carbon
emissions,
and food security tax; uses.
�
(a)
�
In addition to any other taxes provided by
law, subject to the exemptions set forth in section 243-7, there is hereby
imposed a state environmental response, energy,
carbon emissions,
and
food security tax on each barrel or fractional part of a barrel of petroleum
product sold by a distributor to any retail dealer or end user of petroleum
product, other than a refiner.
�
The tax [
shall
be $1.05
] on each barrel or fractional part of a barrel of petroleum
product [
that is not aviation fuel; provided that of the tax collected
pursuant to this subsection:
]
shall be in the amounts provided for each
year as follows:

����
2026:
�

$3.15;

����
2027:
�

$5.25;

����
2028:
�

$9.45;

����
2029:
�

$13.65;

����
2030:
�

$17.85;

����
2031:
�

$22.05;

����
2032:
�

$26.25;

����
2033:
�

$30.45;

����
2034:
�

$34.65;

����
2035:
�

$38.85;

����
2036:
�

$40.11; and

the
tax shall be increased by $1.26 each year thereafter.

����
The tax for each year referenced above
shall take effect on January 1 of that year and shall continue until the
effective date of the next increment.

����
The tax imposed by this subsection shall
be paid by the distributor of the petroleum product.

����
(b)
�
Tax revenues collected pursuant to subsection
(a) shall be distributed in the following priority each fiscal year, with the
excess revenues to be deposited into the general fund:

����
(1)
�
[
5
cents of the tax on each barrel
]
$1,201,000
shall be deposited into
the environmental response revolving fund established under section 128D-2;

����
(2)
�
[
4 cents of the tax on each barrel
]
$892,800
shall be
deposited into the energy security special fund established under section
201-12.8;

����
(3)
�
[
5 cents of the tax on each barrel
]
$1,116,000
shall
be deposited into the energy systems development special fund established under
section 304A-2169.1;

����
(4)
�
[
3
cents of the tax on each barrel
]
$669,600
shall be deposited into
the electric vehicle charging system subaccount established pursuant to section
269-33(e); [
and
]

����
(5)
�
[
3
cents of the tax on each barrel
]
$669,600
shall be deposited into
the hydrogen fueling system subaccount established pursuant to section
269-33(f)[
.
]
;

����
(6)
�
$3,000,000
shall be deposited into the agricultural development and food security special
fund established under section 141-
��
;

����
(7)
�
$1,000,000
shall be deposited into the carbon emissions tax and dividend special fund
established under section 231- ;

����
(8)
�
All
taxes paid on gasoline or other aviation fuel sold for use in or used for
airplanes shall be deposited in the airport revenue fund established under
section 248-8 to reduce carbon emissions; and

����
(9)
�
All
taxes paid on gasoline, diesel, or other fuel sold for use in or used for small
boats shall be deposited in the boating special fund established under section 248-8.

����
[
The
tax imposed by this subsection shall be paid by the distributor of the
petroleum product.

����
(b)
]
(c)
�
In addition to subsection (a), the
environmental
response, energy, carbon emissions, and food security
tax shall also be
imposed on each one million British thermal units of fossil fuel sold by a
distributor to any retail dealer or end user, other than a refiner, of fossil
fuel.
�
The tax [
shall be 19 cents
]
on each one million British thermal units of fossil fuel[
; provided that of
the tax collected pursuant to this subsection:
]
shall be in the amounts
provided for each year as follows:

����
2026:
�

$0.49;

����
2027:
�

$0.79;

����
2028:
�

$1.39;

����
2029:
�

$1.99;

����
2030:
�

$2.59;

����
2031:
�

$3.19;

����
2032:
�

$3.79;

����
2033:
�

$4.39;

����
2034:
�

$4.99;

����
2035:
�

$5.59;

����
2036:
�

$5.77; and

the
tax shall be increased by $0.18

on each one million British thermal units
of fossil fuel each year thereafter.

����
The tax for each year referenced above
shall take effect on January 1 of that year and shall continue until the
effective date of the next increment.

����
The tax imposed by this subsection shall
be paid by the distributor of the fossil fuel.

����
(d)
�
Tax revenues collected pursuant to subsection
(c) shall be distributed in the following priority each fiscal year, with the
excess revenues to be deposited into the general fund:

����
(1)
�
[
4.8
per cent of the tax on each one million British thermal units
]
$49,000

shall be deposited into the environmental response revolving fund established
under section 128D-2;

����
(2)
�
[
14.3
per cent of the tax on each one million British thermal units
]
$147,000

shall be deposited into the energy security special fund established under
section 201-12.8; and

����
(3)
�
[
9.5 per cent of the tax on each one million British thermal
units
]
$98,000
shall be deposited into the energy systems
development special fund established under section 304A-2169.1.

����
[
The
tax imposed by this subsection shall be paid by the distributor of the fossil
fuel.

����
(c)
]

(e)
�
T
he tax imposed under
subsection [
(b)
]
(c)
shall not apply to coal used to fulfill [
a
signed
]
an existing
power purchase agreement between an independent
power producer and an electric utility that is in effect as of June 30, 2015[
.
]
;
provided that this exemption from taxation shall not apply to any extension of
an existing power purchase agreement or to any subsequent power purchase
agreement.
�
An independent power
producer shall be permitted to pass the tax imposed under subsection [
(b)
]

(c)
on to an electric utility.
�
In
[
which case,
]
any case in which the tax is passed on,
the
electric utility may recover the cost of the tax through an appropriate
surcharge to the end user that is approved by the public utilities commission.

����
[
(d)
]
(f)
�
A gas utility shall be allowed to recover the
cost of the tax imposed under subsection [
(b)
]
(c)
as part of its
fuel cost in its fuel adjustment charge without further approval by the public
utilities commission.

����
[
(e)
]

(g)
�
Each distributor subject to
the tax imposed by subsection (a) or [
(b),
]
(c),
on or before the
last day of each calendar month, shall file, in the form and manner prescribed
by the department, a return statement of the tax under this section for which
the distributor is liable for the preceding month.
�
The form and payment of the tax shall be
transmitted to the department in the form and manner prescribed by the
department.

����
[
(f)
]
(h)
�
Notwithstanding section 248-8 to the
contrary, the environmental response, energy,
carbon emissions,
and food
security tax collected under this section shall be paid over to the director of
finance for deposit as provided in subsection [
(a)
]
(b)
or [
(b),
]

(d),
as the case may be.

����
[
(g)
]

(i)
�
Every distributor shall keep
in the State and preserve for five years a record in a form as the department
of taxation shall prescribe showing the total number of barrels, and the
fractional part of barrels, of petroleum product or the total number of one
million British thermal units of fossil fuel, as the case may be, sold by the
distributor during any calendar month.
�

The record shall show any other data and figures relevant to the
enforcement and administration of this chapter as the department may require.

����
[
(h)
]

(j)
�
For the purposes of this
section:

����
"Barrel"
may be converted to million British thermal units, using the United States
Department of Energy, Energy Information Administration annual energy review or
annual energy outlook.

����
"Fossil
fuel" means a [
hydrocarbon deposit,
]
fuel,
such as coal,
natural gas, or liquefied natural gas, derived from
a hydrocarbon deposit
resulting from
the accumulated remains of ancient plants or animals [
and
used for fuel
]; provided that the term specifically does not include
petroleum product."

����
SECTION
8
.
�
Section 304A-2169.1, Hawaii Revised Statutes,
is amended by amending subsection (b) to read as follows:

����
"(b)
�

Deposits into the special fund may be from the following:

����
(1)
�
Appropriations from the legislature;

����
(2)
�
A portion of the environmental
response, energy,
carbon
emissions,
and food security tax pursuant to section 243-3.5; and

����
(3)
�
Investment earnings, gifts, donations,
or other income received by the Hawaii natural energy institute."

����
SECTION 9.
�

The department of taxation shall submit an interim report to the
legislature no later than forty day prior to the convening of the 2026 regular
session on preparations for the implementation of the carbon cashback program.

����
The department of taxation shall submit a
report to the legislature no later than forty days prior to the convening of
each regular session from 2027 until 2035, inclusive, with information about
the carbon cashback program.
�
The report
shall include revenues from the environmental response, energy, carbon
emissions, and food security tax and the amounts distributed through the
refundable tax credits under section 235-
��

, Hawaii Revised Statutes.
�
The
report shall include any information necessary for the legislature to assess
the need to adjust the amounts of the refundable tax credits in future years.

����
SECTION 10.
�
The office of planning and sustainable
development, in consultation with the department of taxation, shall submit a
report to the legislature no later than forty days prior to the convening of
the regular session of 2035.
�
The report
shall include an evaluation of the carbon cashback program and any recommended
changes to the program, including proposed legislation.

����
SECTION 11.
�

Statutory material to be repealed is bracketed and stricken.
�
New statutory material is underscored.

����
SECTION 12.
�

This Act shall take effect upon its approval; provided that sections 4
and 7 shall take effect on January 1, 2026, and shall apply to taxable years
beginning after December 31, 2025.

INTRODUCED BY:

_____________________________

Report Title:

Environmental
Response, Energy, and Food Security Tax; Carbon Emissions; Tax Credit; Agricultural
Development and Food Security Special Fund

Description:

Amends
the environmental response, energy, and food security tax to address carbon
emissions.
�
Incrementally increases the
tax rate over time.
�
Establishes a
refundable tax credit to mitigate the effect of a carbon emissions tax on
taxpayers.
�
Reenacts the agricultural
development and food security special fund.
�

Requires reports to the Legislature.

The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.