2007 Regular Session HB 3261

• Bill Title: Relating to carbon dioxide emissions; appropriating money; prescribing an effective date; providing for revenue raising that requires approval by a three-fifths majority.

Catchline/Summary

Imposes fee on each fuel supplier and utility based on amount of carbon dioxide to be emitted upon consumption of carbon-based fuel, when carbon-based fuel is sold by fuel supplier to consumers in state or is used to produce carbon-generated electricity supplied by utility to consumers in state. Limits fee on certain oil and natural gas to six percent of market value of oil or natural gas.

Distributes moneys collected from fee to State Highway Fund, Common School Fund, Energy Crisis Trust Fund and Renewable Energy Resources Account.

Creates Renewable Energy Resources Account. Continuously appropriates moneys in account to State Department of Energy to fund development of renewable energy resources.

Appropriates moneys from General Fund to Department of Revenue and State Department of Energy for purpose of funding first year of administration of fee.

Applies to carbon-based fuel sold to consumers or used to produce carbon-generated electricity on or after January 1, 2009.

Takes effect on 91st day following adjournment sine die.

• Fiscal Impact: May Have Fiscal Impact, But No Statement Yet Issued
• Revenue Impact: May Have Revenue Impact, But No Statement Yet Issued
• Current Location: In House Committee
• Current Committee: House Committee On Revenue

Subsequent Referral(s)

• Joint Committee On Ways and Means