HB250 Alabama 2024 Session

Summary

Primary Sponsor

Ben Robbins Representative

Republican

Session

Regular Session 2024

Title

Tax credits, authorizes ADEM to issue tax credits to persons using certain recyclable materials, sale and trade of recycle tax credits, civil penalties for fraud.

Description

Under existing law there is no provision for the issuance of credits for sale or transfer among persons who use recyclable materials to produce a product or an energy source and persons seeking to redeem credits in order to offset their solid waste disposal costs.

This bill would authorize the Alabama Department of Environmental Management to issue recycle credits to persons using recyclable materials diverted from the solid waste stream in order to produce a new product or an energy source and allow the credits to be sold and traded to persons seeking to offset the cost of solid waste disposal at public or private landfills in the state.

This bill would provide the department with the authority to establish rules and distribute funds collected from certain fees and penalties and to provide oversight of the program.

This bill would also establish a civil penalty for fraud related to the transfer of recycle credits and for falsifying recycle credit certificates.

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Subjects

Taxation & Revenue