Bill: SB 5385 — 2017
Creating a fossil fuel carbon pollution tax (Hobbs)
Imposes a fossil fuel carbon pollution tax, at the time of the first taxable event and upon the first taxable person within the state, on the carbon content of fossil fuels extracted, manufactured, or introduced into the state equal to fifteen dollars per metric ton of carbon dioxide.
Requires the department of revenue to:
(1) Calculate the carbon content of fossil fuels, in consultation with the department of ecology; and
(2) If practical, integrate the administration and collection of the fossil fuel carbon pollution taxes with the administration and collection of other taxes imposed on the taxpayer.
Exempts certain fossil fuels from the tax.
Creates the carbon pollution revenues account.
Requires at least fifty percent of the funds transferred to the multimodal transportation account from the carbon pollution revenues account to be expended to assist certain school district programs.
Hearing Date: Thursday, February 02, 2017 -- 10:00 am
WA State Legislature Link:
http://app.leg.wa.gov/billsummary?BillNumber=5385&Year=2017 (opens a new browser tab)