Excise Tax on Carbon Offset Agreements

The bill declares that any agreement to limit the development of land, minerals or timber for the purpose of carbon sequestration or carbon offsets longer than 20 years will be void, and imposes an excise tax on the proceeds from any such agreement of shorter duration.

ISSUES: Climate, Development

CWV Position: Opposes

Status: Introduced 2/3/23, referred to Energy and Manufacturing, then Finance; passed to Finance with amendment 2/8/23