Utah HB0185 amends carbon credit regulations, establishing a 25% tax on carbon credit sales, requiring licenses for brokers, and creating a right of.

Utah HB0185 introduces significant changes to the state's carbon credit regulations. It imposes a 25% tax on the sale of carbon credits, with brokers required to collect this tax from purchasers. The bill mandates that individuals or entities selling carbon credits must obtain a license from the commission, which includes a bonding requirement and a fee not exceeding $200. It also establishes a right of first refusal for the Office of Energy Development to purchase in-state carbon credits, allowing the office to submit a proposal for purchase to a designated committee and the state treasurer.

Utah HB0185 amends carbon credit regulations, establishing a 25% tax on carbon credit sales, requiring licenses for brokers, and creating a right of.

Utah HB0185 introduces significant changes to the state's carbon credit regulations. It imposes a 25% tax on the sale of carbon credits, with brokers required to collect this tax from purchasers. The bill mandates that individuals or entities selling carbon credits must obtain a license from the commission, which includes a bonding requirement and a fee not exceeding $200. It also establishes a right of first refusal for the Office of Energy Development to purchase in-state carbon credits, allowing the office to submit a proposal for purchase to a designated committee and the state treasurer.