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AL HB250

Bill

Status

Engrossed

4/23/2024

Primary Sponsor

Ben Robbins

Click for details

Origin

House of Representatives

Regular Session 2024

AI Summary

HB250 Summary

  • Authorizes the Alabama Department of Environmental Management to establish a recycle credit program issuing transferable credits to recyclers for each ton of recyclable materials used to produce new products or energy sources.

  • Recycle credits expire on the third anniversary of issuance or when transferred to a solid waste disposal facility operator, whichever occurs first.

  • Department may issue a maximum of 50 million recycle credits or certificates per calendar year and may charge fees for issuance and registration of credit transfers.

  • Recycle credit transfers are valid only if registered with the department within 30 days of the transaction by filing a registration form and paying a registration fee.

  • Prohibits falsifying recycle credit certificates or fraudulently transferring credits, with civil penalties enforceable under the Alabama Environmental Management Act; becomes effective October 1, 2024.

Legislative Description

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.

Taxation & Revenue

Last Action

Pending Senate Fiscal Responsibility and Economic Development

4/25/2024

Committee Referrals

Fiscal Responsibility and Economic Development4/25/2024
Economic Development and Tourism2/27/2024

Full Bill Text

No bill text available