Bill > S2229

This bill expands carbon pricing in Massachusetts by establishing a comprehensive, phased approach to implementing market-based compliance mechanisms for greenhouse gas emissions across different sectors. The bill requires the state's secretary and department to adopt fees and market-based mechanisms targeting commercial, institutional, and industrial building heating and cooling by 2028, industrial processes by 2029, transportation by 2030, and residential heating and cooling by 2031. These mechanisms aim to reduce greenhouse gas emissions by setting a starting price of $50 per metric ton of carbon dioxide equivalent, increasing by $10 annually up to a maximum of $200 per metric ton. The bill ensures equitable implementation by protecting low-income communities, preventing increases in toxic air pollutants, and mitigating potential economic impacts on vulnerable manufacturing sectors. The revenue generated will be distributed through various methods, including rebates to residents and employers, and credited to three new dedicated funds: the Green Commercial Building Fund, Green Industrial Fund, and Green Residential Building Fund, which will be managed by the Massachusetts Clean Energy Center to further support emissions reduction efforts. Additionally, the bill requires annual reporting on the effectiveness of these mechanisms in meeting the state's greenhouse gas emissions limits.

Transportation and Infrastructure

https://malegislature.gov/Bills/194/S2229