Bill > S1786

This bill proposes to amend Chapter 21N of the General Laws to protect the environment and reduce the carbon footprint of the commonwealth by introducing an "economy-wide price on carbon," which means a system that puts a cost on carbon emissions across all sectors of the economy. Specifically, it adds this carbon pricing mechanism as a way to achieve the chapter's goals, changes a provision from "may" to "shall" to make certain actions mandatory, and mandates that all revenue generated from this carbon price be deposited into a Clean Energy and Transportation Fund. Of this fund, 20 percent will be allocated to public transportation and energy projects aimed at reducing carbon emissions and transitioning away from fossil fuels, while the remaining revenue will be returned to Massachusetts residents through a rebate program managed by the Department of Revenue.