HB 460

Bill Subjects

Abstract

Amends the environmental response, energy, and food security tax (barrel tax) to tax various fossil fuels at a rate equivalent to $40 per metric ton of carbon dioxide emissions in 2022. Incrementally increases the barrel tax rate to be equivalent to a carbon price of $80 per metric ton of carbon emissions in 2030. Amends the distribution of barrel tax revenues. Renames the barrel tax as the environmental response, energy, carbon emissions, and food security tax. Effective 1/1/2022.