Bill > H778

This bill aims to implement a carbon pricing system in Massachusetts to account for the pollution content of fossil fuels. The key provisions are: 1. A price will be assessed on the sale of all fossil fuels at the first point of sale within the commonwealth, starting at $15 per metric ton of carbon dioxide equivalent (CO2e) and increasing by $10 per year (adjusted for inflation), with the price being reduced by any federal carbon price. 2. The revenue collected from the carbon price will be deposited into a Clean Energy Dividend Fund and distributed quarterly as a "Clean Energy Dividend" to all households and employers in the state, with a slightly higher dividend for households in rural municipalities. 3. The dividend payments are intended to offset any increases in energy costs due to the carbon price and can be used by recipients at their discretion. 4. The bill also establishes a tax exemption for companies headquartered in Massachusetts that are primarily engaged in research, development, demonstration, or manufacturing of technologies that reduce greenhouse gas emissions while providing cheaper energy to end-users.

Agriculture and Natural Resources

https://malegislature.gov/Bills/191/H778