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Carbon-credit bill draws extensive public comment; committee adopts amendment and holds HB 185 for more work
Summary
Representative Shelly's bill to tax and regulate carbon-credit sales drew lengthy testimony from state officials, rural and agricultural stakeholders and industry. The committee adopted Amendment 1 to the second substitute and then voted to 'hold' the bill to allow further stakeholder engagement and drafting changes.
Representative Shelly presented the second substitute to House Bill 185, a proposal that would create a mechanism for state oversight, a sliding assessment, and a state fund related to carbon-credit transactions. Shelly framed the measure as a transparency and defensive measure to protect state economic interests and public assets, saying the market for carbon credits is large and that states need visibility into transactions that could commit natural assets in perpetuity.
Shelly described a sliding assessment (5% for shorter-term commitments, 10% for over-ten-year commitments in the second substitute) and said a portion of proceeds would create a fund the attorney general could draw on to defend the state and departments in lawsuits related to…
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