An act relating to the instatement of a carbon emissions tax.
Be it enacted by the Youth Model Legislature of the State of New Jersey that a fixed rate carbon emissions tax replaces current cap-and-trade policies.
Section I: Be it defined that carbon emissions are carbon dioxide released into the atmosphere by factories, power plants and other industrial establishments.
Section II: Be it defined that “cap-and-trade” refers to the selling of carbon credits by the government to corporations and businesses, which permits said corporations and businesses to emit a set amount of carbon emissions.
Section III: A tax rate of $50 per ton of emitted carbon dioxide will be enacted upon major industrial producers currently partaking in cap-and-trade. The tax will be taken biannually from the affected companies’ gross income.
Section IV: With the instatement of the tax, cap-and-trade policies and practices will be nullified.
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| Statement of Intent: The purpose of this Bill is to enact a fixed rate tax on carbon dioxide emitted by major industries. The created tax will promote energy efficiency and possibly encourage ventures into the alternative energy field. Also, the practice of cap-and-trade will be nullified, and replaced with a more efficient method of carbon emission reduction.
Effective Date: This Bill shall take effect on January 1, 2013.
Financial Statement: The collected tax will be used as surplus for the state government and be used for further alternative energy development.
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* Primary Sponsor |
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