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Sponsors
3 Co-sponsors
History
- Referred to investigations and government operations
- Referred to rules
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Establishes a tax on carbon-based fuels
In Assembly Committee · Ways And Means · Sponsor Kevin Cahill
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S6037
Title of bill
An act to amend the tax law, in relation to establishing a tax on carbon-based fuels to mitigate greenhouse gas emissions causing anthropogenic climate change
Purpose or general idea of bill
To assist in NY's goal to substantially reduce CO2 emissions, while investing in clean energy and modernized infrastructure.
Summary of specific provisions
§ 289-g of Section 1 provides definitions for "carbon-based fuel," "carbon generated electricity," "carbon dioxide equivalent," "carbon dioxide emissions tax," "fuel distributor," "carbon dioxide emissions fund (fund)," "motor vehicle fuel," and "utility."
§ 289-h of Section 1 provides for the administration of emissions charges.
§ 289-i of Section 1 provides for the establishment of the carbon dioxide emissions tax. § 289-j of Section 1 provides for development of a carbon dioxide emissions fund.
§ 289-k of Section 1 allows for the Departments of Taxation & Finance and Environmental Conservation to promulgate rules and regs.
Section 2 provides that this act shall take effect 90 days after being signed into law and that all rules/regs are completed before the effective date.
Justification
This carbon tax bill will reduce carbon emissions in New York State, helping New York to reach its target of reducing carbon dioxide emissions by 80% of 1990 levels by the year 2050. The bill aims to protect the poorest classes while using a portion of the revenue to adapt to climate change, increase investment in infrastructure, and enhance the use of renewable energy. Hence the bill is revenue neutral for the most vulnerable groups, and uses revenue from less vulnerable groups to offset the impacts and prevent future climate change.
The scientific community has widely recognized the imminent threat presented by climate change, and a market-based solution offsetting climate altering emissions will play a large role in preventing the irreversible impacts of a warmer climate. Already New York State has witnessed the devastating effects of Hurricane Sandy and other extreme weather events. A market - based solution such as a carbon tax has been embraced widely by economists, including those in New York State, as well as by citizens' groups and political leaders on both sides of the aisle.
Prior legislative history
This is a new bill.
Fiscal implications
TBD.
Effective date
This bill would take effect 90 days after becoming law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.