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A10673 Summary:

BILL NOA10673
 
SAME ASNo Same As
 
SPONSORLifton
 
COSPNSR
 
MLTSPNSR
 
 
Authorizes a study on implementing a greenhouse gas or carbon emissions fee or tax.
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A10673 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
submitted in accordance with Assembly Rule III, Sec 1(f)
 
BILL NUMBER: A10673
 
SPONSOR: Rules (Lifton)
  TITLE OF BILL: An act authorizing a study on implementing a greenhouse gas or carbon emissions fee or tax   PURPOSE: To authorize a report on the impacts of a statewide greenhouse gas or carbon emission fee or tax.   SUMMARY OF PROVISIONS: Section 1 directs the New York State Energy Research and Development Authority (NYSERDA) to prepare a report for submission to the Environ- mental Conservation Committees of the Assembly and Senate related to implementing a statewide greenhouse gas or carbon emission fee or tax. The report shall: analyze the impact of greenhouse gas emissions, including carbon and methane, and the dangers posed to state residents due to climate change; analyze the potential environmental and policy benefits derived from a carbon tax; identify an effective structure for a carbon fee; evaluate the direct and indirect impact of a carbon fee on low-income households, consumers, industries and localities; evaluate the level of greenhouse gas emissions based on different rates of a carbon fee; evaluate how to treat imported and exported energy sources under a carbon fee; evaluate the impact of a carbon fee on jobs and wages; evaluate the per unit costs of specific types of fuel that would be subject to a carbon fee or tax; evaluate revenue allocation options from collection of a carbon fee or tax. Section 2 requires a written preliminary report to be submitted to the state legislature by December 1, 2016, and a final report on or before March 1, 2017. Section 3 requires at least two public hearings before release of the final report, to allow for public input in the study.   EXISTING LAW: None.   JUSTIFICATION: This greenhouse gas tax study bill is a critical component in moving New York State towards its target of reducing greenhouse gas emissions by 80% of 1990 levels by the year 2050. A greenhouse gas study will answer many important questions about the impacts of implementing a statewide greenhouse gas tax. Understanding the impacts to low-income families and neighborhoods, the environmental and policy benefits, the optimal taxa- tion level, and how to allocate the revenues generated by a greenhouse gas tax, among other concerns, will provide important information tailored to the specifics of New York State. Following the Paris Climate Agreement of December 2015, the global community has acknowledged the imminent threat posed by climate change and is demanding action. Already, New York State has witnessed the devastating effects of Hurricane Sandy and other extreme weather events. Many economists agree that a carbon/ greenhouse gas tax is one of the most effective ways to curb emissions, by accounting for the full costs of climate pollution through a market-based solution. A comprehensive carbon tax study can help pave the way for taking strong action on climate change.   LEGISLATIVE HISTORY: New bill.   FISCAL IMPLICATIONS: None.   EFFECTIVE DATE: Immediately.
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A10673 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          10673
 
                   IN ASSEMBLY
 
                                      June 12, 2016
                                       ___________
 
        Introduced  by  COMMITTEE ON RULES -- (at request of M. of A. Lifton) --
          read once and referred to the Committee on Ways and Means
 
        AN ACT authorizing a study on implementing a greenhouse  gas  or  carbon
          emissions fee or tax
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. 1. The New  York  state  energy  research  and  development
     2  authority   (NYSERDA)  is  hereby  directed  to  prepare  a  report  for
     3  submission to the environmental conservation committees  of  the  Senate
     4  and  Assembly  related  to  implementing  a  statewide greenhouse gas or
     5  carbon emission fee or tax (hereinafter a carbon fee or tax) related  to
     6  assisting the state in reducing or eliminating such greenhouse gases.
     7    The report shall:
     8    (a)  analyze the current and future environmental impact of greenhouse
     9  emissions, including carbon and methane, and the dangers posed to  resi-
    10  dents for climate change;
    11    (b)  analyze  the  potential environmental and policy benefits derived
    12  from a carbon tax;
    13    (c) identify an effective structure for a carbon fee or tax to  gener-
    14  ate revenue;
    15    (d)  evaluate the direct and indirect impact of a carbon fee or tax on
    16  low-income households, consumers, industries and localities;
    17    (e) evaluate the direct and indirect regional and statewide impact  of
    18  a carbon fee or tax;
    19    (f)  evaluate whether the level of greenhouse gas emissions reductions
    20  might vary based on different rates of a carbon fee  or  tax,  including
    21  determining  the  minimum  level  of  such fee or tax needed to ensure a
    22  significant reduction in greenhouse gas emissions;
    23    (g) evaluate how to treat imported and exported energy sources under a
    24  carbon fee or tax;
    25    (h) evaluate the impact of a carbon fee or tax on jobs and wages;
    26    (i) evaluate the impact of a carbon fee or tax on existing fees, state
    27  revenue and state income taxes, including the  regional  greenhouse  gas
    28  initiative;
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD11872-01-5

        A. 10673                            2
 
     1    (j)  evaluate the per unit costs of specific types of fuels that would
     2  be subject to a carbon fee or tax; and
     3    (k)  evaluate revenue allocation options, including assisting in fund-
     4  ing a transition to clean renewable energy, maximizing positive  impacts
     5  and mitigating detrimental or unequal impacts on low and moderate income
     6  households,  improving mass transit, implementing climate change adapta-
     7  tion measures such as making improvements in infrastructure,  implement-
     8  ing agricultural adaptation measures, increasing protection of low-lying
     9  areas  including  coastlines, and enhancing emergency health response to
    10  extreme weather events.
    11    2. NYSERDA shall submit a written  preliminary  report  to  the  state
    12  legislature related to revenue and the environment on or before December
    13  1,  2016,  and  a  final  report on or before March 1, 2017. NYSERDA may
    14  contract with third parties as necessary to prepare the reports and  any
    15  related recommendations.
    16    3.  NYSERDA  shall  provide  for  public input in the study, including
    17  holding at  least  two  public  hearings  before  the  final  report  is
    18  released.
    19    § 2. This act shall take effect immediately.
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