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AL HB250
Bill
Status
4/23/2024
Primary Sponsor
Ben Robbins
Click for details
AI Summary
HB250 Summary
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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.
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Recycle credits expire on the third anniversary of issuance or when transferred to a solid waste disposal facility operator, whichever occurs first.
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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.
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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.
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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