NY S03346

Imposes a carbon pollution fee starting at $25 per ton of CO2 equivalent in 2026, increasing annually based on emissions reduction targets, on carbon-based fuels including coal, petroleum, natural gas, and biomass sold or used in New York

Allocates fee revenues to four funds: 33% to Community Just Transition Fund for disadvantaged communities, 30% to Climate Jobs and Infrastructure Fund, 30% to Low-Income and Small Business Household Energy Rebate Fund, and 7% to Worker and Community Assurance Fund (with initial $500 million transfer)

Establishes energy rebates for households earning up to median county income, with low-income households receiving transit vouchers, utility assistance, or weatherization grants, and moderate-income households receiving tax credits; small businesses receive credits of at least $500 annually

Requires project labor agreements for all renewable energy and energy efficiency construction projects receiving state assistance, mandating prevailing wages, participation in registered apprenticeship programs, and contractor responsibility certifications

Creates worker and community assurance programs providing up to 10 years of income support, retraining, pension contributions, and early retirement benefits for workers displaced from fossil fuel industries, plus funding to replace lost local tax revenue and school aid in affected communities