BILL NUMBER: SB 3150, SD-1
INTRODUCED BY: Senate Committee on Agriculture & Environment
EXECUTIVE SUMMARY: Amends the environmental response, energy, and food security tax to address carbon emissions. Increases the tax rate to effectively set a price of $40 per metric ton of carbon dioxide emissions in 2021. Incrementally increases the tax rate over time so that, in 2030, the tax rate shall be equivalent to a carbon price of $80 per metric ton of carbon emissions. Establishes a refundable tax credit for individuals earning sixty per cent or less of the area median income.