Bill
Bill > A02718
NY A02718
NY A02718Establishes a tax credit for farmers who maximize carbon sequestration potential through a "carbon farming" land management strategy; directs DEC to develop regulations related to certifying the amount of carbon sequestered or emissions reduced.
summary
Introduced
01/25/2019
01/25/2019
In Committee
01/08/2020
01/08/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
2019-2020 General Assembly
Bill Summary
Establishes a tax credit for farmers who maximize carbon sequestration potential through a "carbon farming" land management strategy; directs DEC to develop regulations related to certifying the amount of carbon sequestered or emissions reduced.
AI Summary
This bill establishes a tax credit for farmers who practice "carbon farming" - a land management strategy that reduces, sequesters, and mitigates greenhouse gas emissions on their farmland. The Department of Environmental Conservation (DEC) is directed to develop regulations and a certification process to quantify the carbon stored or emissions reduced through these practices, using tools like COMET-Planner and COMET-Farm. The Department of Agriculture and Markets will also develop educational materials to promote carbon farming and the availability of the tax credit. The bill aims to incentivize farmers to adopt practices that enhance soil and carbon sequestration, providing environmental and agricultural benefits to New Yorkers.
Committee Categories
Agriculture and Natural Resources
Sponsors (24)
Didi Barrett (D)*,
Vivian Cook (D)*,
Billy Jones (D)*,
Walter Mosley (D)*,
Jo Anne Simon (D)*,
Fred Thiele (D)*,
Michael Blake (D),
William Colton (D),
Marcos Crespo (D),
Anthony D'Urso (D),
Patricia Fahy (D),
Deborah Glick (D),
Richard Gottfried (D),
Aileen Gunther (D),
Ellen Jaffee (D),
Charles Lavine (D),
Barbara Lifton (D),
Donna Lupardo (D),
Félix Ortiz (D),
Crystal Peoples-Stokes (D),
José Rivera (D),
Linda Rosenthal (D),
Rebecca Seawright (D),
Phil Steck (D),
Last Action
referred to agriculture (on 01/08/2020)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
Loading...