2024 – Senate Bill 1135 (Limón, Monique), Greenhouse Gas Reduction Fund: Income Taxes: Credit (Dead)
Bill Number
SB 1135
Legislative Session
2023-2024
Bill Information
Category
Budget, Climate Change, Incentives, Natural and Working Lands
Status
Dead
Author
Limón.Monique
Contact
Office of Legislative Affairs
Email
Summary
Would have created the California Compost Tax Credit Fund providing refundable tax credits for California farmers, ranchers, and landowners who employ farming practices that maximize carbon sequestration through the utilization of compost on natural and working lands. Would have transferred one percent of annual Greenhouse Gas Reduction Fund proceeds, not exceeding $120 million per fiscal year through FY 2035-36 to the California Compost Tax Credit Fund. Held on suspense in the Senate Appropriations Committee.