California Air Resources Board

Summary

Would have allowed, for taxable years beginning on or after January 1, 2023, and before January 1, 2028, a credit against State taxes for a qualified taxpayer in an amount equal to $800 per ton of criteria air pollutant reduced beyond the baseline amount. The bill would have defined “qualified taxpayer” to mean a major source emitter, as defined, that has emissions levels of criteria air pollutants for the taxable year at least 5 percent below the requirements set by the federal Clean Air Act. The bill also would have defined “baseline amount” with respect to criteria air pollutants to mean the level of criteria air pollutants the taxpayer may emit to meet the requirements of the federal Clean Air Act. Was amended to deal with student loan debt.

View full bill text here