Establishes a carbon emissions tax and a refundable tax credit to reduce greenhouse gas emissions and provide financial relief to residents.

This bill establishes a carbon emissions tax on fossil fuels and a refundable tax credit to reduce greenhouse gas emissions and provide financial relief to residents. The tax rates increase annually until 2035, after which they account only for inflation. The tax credits are distributed to taxpayers based on their filing status and number of dependents, with lower-income households receiving the most benefit. The tax revenues fund programs to mitigate climate change impacts, support oil recycling, and address underground storage tanks.

Establishes a carbon emissions tax and a refundable tax credit to reduce greenhouse gas emissions and provide financial relief to residents.

This bill establishes a carbon emissions tax on fossil fuels and a refundable tax credit to reduce greenhouse gas emissions and provide financial relief to residents. The tax rates increase annually until 2035, after which they account only for inflation. The tax credits are distributed to taxpayers based on their filing status and number of dependents, with lower-income households receiving the most benefit. The tax revenues fund programs to mitigate climate change impacts, support oil recycling, and address underground storage tanks.