HEALTH AND SAFETY -- ECONOMIC AND CLIMATE RESILIENCE ACT OF 2026, the official text

S2222 2026 -- S 2222 ======== LC004189 ======== STATE OF RHODE ISLAND IN GENERAL ASSEMBLY JANUARY SESSION, A.D. 2026 ____________ A N A C T RELATING TO HEALTH AND SAFETY -- ECONOMIC AND CLIMATE RESILIENCE ACT OF 2026 Introduced By: Senators Sosnowski, Murray, Euer, McKenney, Kallman, and Valverde Date Introduced: January 23, 2026 Referred To: Senate Environment & Agriculture It is enacted by the General Assembly as follows: 1 SECTION 1. Legislative Findings. The General Assembly finds and declares that: 2 (1) In order to promote the general welfare of the people of the state, Rhode Island must 3 strengthen its economy and make it more resilient over the long term in order to avoid the economic 4 consequences of climate change, which will require initiatives that encourage the development and 5 use of innovative policies, technologies and practices; 6 (2) Rhode Island is committed to the principles of the Paris Climate Agreement and to the 7 findings of the latest climate science and acknowledges that immediate actions to reduce 8 greenhouse gas emissions, such as those set forth in this legislation, are essential to protect our 9 community, our environment, and our economy; 10 (3) The General Assembly in 2014 enacted the Resilient Rhode Island Act, which set goals 11 for reducing greenhouse gas emissions in Rhode Island, and established affirmative obligations 12 to meet these statutory goals; 13 (4) Climate change has a disproportionate impact on low income communities, 14 communities of color and other vulnerable residents of Rhode Island; 15 (5) Climate change increases risks to public health, including from health impacts from 16 extreme heat events, storms and floods, decreased air quality, and illnesses transmitted from food, 17 water, and disease carriers, as reported by the Rhode Island department of health; 18 (6) Climate change increases public safety risks and threats to our private property and 1 public infrastructure, including risks associated with storms, floods, and sea level rise, and these 2 risks have been recognized by several branches of the Rhode Island government as warranting 3 specific attention; 4 (7) Climate change has severe economic consequences, including catastrophic weather 5 events such as Hurricane Sandy or coastal and river flooding that cause widespread damage to 6 communities and businesses and changes to marine ecosystems that cause severe reductions in 7 winter flounder, lobster, and other marine populations, and failing to address these risks will only 8 lead to more severe and persistent impacts upon our local economy; 9 (8) Rhode Island spends over three billion dollars ($3,000,000,000) annually on fossil fuels 10 whereas carbon pricing mechanisms have been shown to be effective in creating jobs and 11 stimulating the local economy; 12 (9) Natural gas, gasoline, diesel and heating oil prices can be highly volatile and create 13 uncertainty and risk for Rhode Island s economy. Reducing energy waste and demand for fossil 14 fuels produced out-of-state can stabilize Rhode Island s economy; 15 (10) In the absence of international or federal action, states cooperating regionally are 16 effective at reducing emissions and spurring renewable energy initiatives, as demonstrated by the 17 success of the Regional Greenhouse Gas Initiative (RGGI), which places a cap on emissions and 18 which has reduced overall emissions and strengthened the economies of participating states. 19 (11) Carbon pricing is a cost-effective and when used in conjunction with the emissions 20 cap set forth in RGGI, is an efficient market-based means to achieve significant carbon emissions 21 reductions; 22 (12) The clean energy sector has proven to be one of the fastest growing segments of Rhode 23 Island s economy, currently providing over fifteen thousand (15,000) jobs and growing at a rate 24 much higher than the overall state economy; increased investment will provide even more jobs in 25 addition to a higher quality of life; 26 (13) Climate change poses substantial risks to Rhode Island s ecology and natural 27 resources, and pursuant to Article 1, § 17 of the Rhode Island Constitution, it is the responsibility 28 of the state to secure the right of the people to the use and enjoyment of the natural resources of 29 the state with due regard for the preservation of their values; and 30 SECTION 2. Legislative intent. It is the intent of the general assembly to: 31 (1) Establish a separate restricted receipt account called the Rhode Island Economic and 32 Climate Resilience Climate Fund for creating employment and helping workers transition to low 33 carbon industries, improving energy efficiency, advancing adoption of clean energy technology, 34 establishing programs to safeguard low-income residents, and protecting businesses that are high LC004189 - Page 2 of 12 1 energy users; 2 (2) Price carbon as an incentive to reduce carbon (greenhouse gas) emissions from use of 3 carbon-based fuels by residents and businesses in Rhode Island; 4 (3) Provide access to energy efficiency, energy conservation, and renewable energy 5 programs for low-income families and small businesses; 6 (4) Reduce public health, public safety, economic, and natural resource impairment risks 7 associated with climate change; 8 (5) Meet or exceed the state emissions goals for 2035 as set by the Resilient Rhode Island 9 Act of 2014; and 10 (6) Promote regional cooperation to reduce emissions, build renewable energy and energy 11 efficiency programs, and strengthen the economy. 12 SECTION 3. Title 23 of the General Laws entitled HEALTH AND SAFETY is hereby 13 amended by adding thereto the following chapter: 14 CHAPTER 82.1 15 ECONOMIC AND CLIMATE RESILIENCE ACT OF 2026 16 23-82.1-1. Short title. 17 This chapter shall be known and may be cited as the Economic and Climate Resilience 18 Act of 2026 . 19 23-82.1-2. Definitions. 20 As used in this chapter, the following words and terms shall have the following meanings 21 unless the context shall clearly indicate another or different meaning or intent: 22 (1) Carbon dioxide equivalent ( CO2e ) means a unit of measure used to compare the 23 emissions from various greenhouse gases based upon their global warming potential. 24 (2) Carbon price means the fee imposed by this chapter. 25 (3) Climate resilience means the ability of a social, ecological, or socio-ecological system 26 and its components to anticipate, reduce, accommodate, or recover from the effects of a hazardous 27 event or trend in a timely and efficient manner. Such economic and social stability in the face of 28 climate-related disasters can be achieved through preparation, soft and hard infrastructure 29 improvements, emergency warning systems, and recovery resources, as well as through quickly 30 decarbonizing the economy to help lead other jurisdictions to do so, to avoid the worst impacts 31 which come with the accumulation of greenhouse gases in the atmosphere and oceans. 32 (4) Commission means the public utilities commission, set forth in § 39-1-3(a). 33 (5) Electricity fuel mix means the mix of fuels for any one-year period used to create 34 electricity by generators within the control area of ISO-NE. LC004189 - Page 3 of 12 1 (6) Employer means a person, firm, corporation, partnership, association or public body, 2 whether for-profit or not-for-profit, that is located in Rhode Island and employs Rhode Island 3 residents. 4 (7) Economic and climate resilience fund means the fund established under this chapter. 5 (8) Fossil fuel means coal, oil, natural gas, propane, petroleum product, and biomass that 6 is not carbon neutral over its life cycle. Fossil fuels do not include renewable, carbon neutral 7 biomass or waste vegetable oil biodiesel. 8 (9) Implementation date means January 1 of the year following initial regional carbon 9 fee enactment. 10 (10) Independent System Operator-New England or ISO-NE means the regional 11 transmission organization for New England licensed by the federal energy regulatory commission 12 pursuant to the Federal Power Act, 16 U.S.C. ch.12 §§ 791-828(c). 13 (11) Initial regional carbon fee enactment means the enactment of a fee of at least five 14 dollars ($5.00) per metric ton of carbon by the legislatures of at least three (3) states: Rhode Island, 15 Massachusetts, and one or more additional states in the Regional Greenhouse Gas Initiative 16 (RGGI). 17 (12) Low-income residential property means a dwelling unit owned or occupied by a 18 household eligible to receive benefits under the low-income energy assistance program (LIHEAP) 19 as set forth in § 39-1-27.12; in instances where a premises contains multiple dwelling units, the 20 entire premises shall be considered a low-income residential property if fifty percent (50%) or more 21 of the dwelling units are occupied by LIHEAP-eligible households. 22 (13) Person means any individual, partnership, corporation, company, society, or 23 association, whether created for-profit or nonprofit purposes. 24 (14) Petroleum product means all petroleum derivatives, whether in bond or not, which 25 are commonly burned to produce heat, electricity, or motion or which are commonly processed to 26 produce synthetic gas for burning, including propane, gasoline, unleaded gasoline, kerosene, 27 heating oil, diesel fuel, and number 4, number 5 and residual oil for utility and non-utility uses. All 28 aircraft fuels (including kerosene-based jet fuel) used by commercial airplanes in Rhode Island and 29 all aircraft fuels brought into Quonset and Rhode Island T.F. Green International Airports are 30 exempt from the fee. Fuels brought into Rhode Island in airplane fuel tanks are exempt. 31 (15) Resident means a person eighteen (18) years of age or older who is a resident of 32 Rhode Island. All persons registered to vote in Rhode Island or all persons eighteen (18) years of 33 age or older who hold a valid Rhode Island driver s license or photo ID shall be presumptively 34 considered residents for the purposes of this chapter. Persons who do not meet the requirements for LC004189 - Page 4 of 12 1 presumptive eligibility may establish eligibility by presenting other acceptable documentation. 2 (16) Small business property means the premises, whether owned or leased, of any 3 employer, other than a public body, that is a small business as defined by the United States Small 4 Business Administration (SBA). 5 23-82.1-3. Carbon pricing. 6 (a) A fee shall be collected on all non-exempt fossil fuels within the state for purposes of 7 distribution or use within the state, at the rate specified in subsection (b) of this section, in the 8 manner specified in subsections (e) through (l) of this section. 9 (b) Commencing on the implementation date, a fee shall be charged at a rate of fifteen 10 dollars ($15.00) per metric ton of CO2e that would be released by burning the fuel sold. In each 11 subsequent fiscal year, the rate shall be the rate of the previous fiscal year plus five dollars ($5.00), 12 until it reaches a rate of fifty dollars ($50.00) per ton. After the rate reaches fifty dollars ($50.00) 13 per ton, in each subsequent fiscal year the rate will increase in accordance with inflation, as 14 measured by Rhode Island s cost-of-living-adjustments calculated using the United States Bureau 15 of Labor Statistics Consumer Price Index or, if that index is not available, another index adopted 16 by the director of revenue. 17 (c) The director of revenue shall calculate and publish the rate in current dollars for each 18 year, by December 1. 19 (d) In sales where greenhouse gas emissions from the fossil fuels are to be permanently 20 sequestered and not released into the atmosphere, charges on the fossil fuels shall be reduced by 21 the director of revenue in proportion to the amount of CO2e that is to be sequestered. The office of 22 energy resources shall ensure that in such cases, the emissions are actually sequestered and not 23 released into the atmosphere. 24 (e) The fee shall be collected on all petroleum products at their first point of sale within the 25 state for consumption or distribution within the state. 26 (f) All suppliers of electricity, including all electric distribution companies operating in the 27 state and all competitive suppliers of electricity to end users, shall pay the fee on behalf of all of 28 their electricity customers on the basis of each kilowatt hour of electricity used by each distribution 29 customer. The per kilowatt hour fee to be paid by the supplier of electricity will be calculated in 30 the following manner: 31 (1) The fee shall be calculated on an annual basis, based on the electricity fuel mix as 32 defined in § 23-82.1-2. 33 (2) The CO2e of every kilowatt hour of electricity shall be determined by taking the 34 weighted average of the natural gas, coal, and oil portions of the fuel mix and multiplying each of LC004189 - Page 5 of 12 1 those portions separately by the amount of CO2e emissions created per kilowatt hour of electricity 2 produced by each such fuel, as those carbon intensity levels are from time to time determined by 3 the United States Energy Information Administration (EIA). 4 (3) The supplier of electricity shall deduct from the fee calculated by subsections (f)(1) and 5 (f)(2) of this section an amount equal to the amount it paid for the same year on account of regional 6 greenhouse gas initiative (RGGI) clearing auctions; provided, however, that the amount so 7 deducted may be no greater than the total amount of the fee as calculated in subsections (f)(1) and 8 (f)(2) of this section. The electricity supplier shall also deduct from the fee calculated an amount 9 equal to the amount it may have paid for NE-GIS certificates as defined in § 39-26-2. 10 (g) On April 1 of each year, each supplier of electricity shall file with the commission the 11 result of its proposed calculation for the year beginning the following July 1. The filing will include 12 sufficient supporting data to enable the commission to determine whether the calculation by the 13 supplier of electricity was made fully in accordance with subsection (f) of this section. Upon receipt 14 of the calculation by the supplier of electricity, the commission shall open a docket. The sole 15 purpose of the docket shall be for the commission to determine whether the calculation by the 16 supplier of electricity was made fully in accordance with subsection (f) of this section. If the 17 commission determines that the calculation by the supplier of electricity was made fully in 18 accordance with subsection (f) of this section, the commission shall, no later than May 15 of the 19 same year, issue its order approving the calculation. If the commission determines that the 20 calculation by the supplier of electricity did not fully comply with subsection (f) of this section, the 21 commission shall issue an order stating clearly the errors that were made by the supplier of 22 electricity. In that event, the supplier of electricity shall have twenty-one (21) days to make a 23 compliance filing with the commission, correcting the errors identified in the commission s order. 24 (h) Any entity which generates more than twenty-five thousand kilowatt hours (25,000 25 kwh) of electricity for on-site use using any combination of one or more fossil fuels shall be 26 obligated to pay the carbon price, which shall be calculated by multiplying the quantity of each 27 separate fossil fuel combusted to produce electricity by the CO2e emissions of each separate fuel 28 so combusted. Within one year following the date of enactment of this chapter, the director of 29 revenue shall issue rules, pursuant to chapter 35 of title 42, for the regular and efficient calculation, 30 assessment, and collection of these carbon price amounts. Any fee already paid on said fuel 31 pursuant to this section shall be deducted from the fee that would otherwise be due under this 32 subsection. 33 (i) The local distribution company for natural gas shall pay the fee on behalf of all of its 34 distribution customers. The fee shall be calculated by multiplying the number of cubic feet of LC004189 - Page 6 of 12 1 natural gas used by each customer by the amount of CO2e released by burning one cubic foot of 2 natural gas, as that value is from time to time determined by the United States Energy Information 3 Administration (EIA). 4 (j) The office of energy resources shall determine the amount of CO2e released in the form 5 of escaped methane due to the extraction, transport, or distribution of natural gas before the point 6 of consumption in Rhode Island, and shall add an additional charge to the carbon price for all 7 natural gas or natural-gas-based electricity, based on the rate specified in subsection (b) of this 8 section. This fee shall be published no later than December 10 of each year. 9 (k) In the event that a separate fee on the greenhouse gas content of transportation fuels is 10 established, this fee shall be deducted from the fee imposed by the economic and climate resilience 11 act; provided, however, that the amount so deducted may be no greater than the total amount of the 12 fee as calculated in subsections (f)(1) and (f)(2) of this section. 13 (l) Government agencies whose primary purpose is to provide public transportation by bus, 14 van, rail, ferry or other means that reduce the amount of driving by private motor vehicles shall be 15 exempt from the fees set forth in this section for the portion of their business that provides public 16 transport. 17 (m) The fee established by this chapter shall be reduced by the amount of any fee or 18 payment due under any federal law or under this section that sets a carbon price on the same fossil 19 fuels for the same year as described in this chapter; provided, however, that such reduction shall 20 not be in an amount of less than zero. 21 23-82.1-4. Economic and climate resilience fund. 22 (a) There is hereby established a restricted receipt account in the general fund to be known 23 as the economic and climate resilience fund. All fees collected under this chapter shall be deposited 24 in the economic and climate resilience fund. 25 (b) Unexpended balances and any earnings thereon shall not revert to the general fund but 26 shall remain solely in the economic and climate resilience fund. The economic and climate 27 resilience fund shall be used solely to carry out the provisions of this chapter. 28 (c) Proceeds from the economic and climate resilience fund may only be used for the 29 purposes described in § 23-82.1-5. Proceeds shall be available for the purposes described in § 23- 30 82.1-5 without appropriation. 31 (d) An independent economic and climate resilience fund oversight board shall be created, 32 with members chosen by the governor with the advice and consent of the senate, to include nine 33 (9) members with one member representing each of the following interests: small business, large 34 business, labor, environmental justice, scientific community, low-income, historically LC004189 - Page 7 of 12 1 marginalized groups, community development organizations, and the transportation sector. 2 Members shall have staggered three (3) year terms. The director of the Rhode Island infrastructure 3 bank and the commissioner of the office of energy resources shall serve as permanent ex officio 4 non-voting members. The board shall elect a chair from its voting membership. The oversight board 5 shall convene quarterly to carry out roles pursuant to the provisions of subsection (d)(1) of this 6 section with the support of the office of energy resources. 7 (1) The economic and climate resilience fund oversight board and the office of energy 8 resources (OER) shall prepare and deliver an annual report to the house committee on environment 9 and natural resources, the senate committee on environment and agriculture, the house committee 10 on finance, and the senate committee on finance on or before May 1, one year after the 11 commencement of the fee, and annually on or before May 1 thereafter, which will: 12 (i) Recommend changes to the fee in order to account for greenhouse gas emissions 13 associated with the full lifecycle of all fossil fuels, including emissions prior and subsequent to 14 combustion associated with extraction, transportation, or disposal in order to help the state meet its 15 greenhouse gas reductions targets; 16 (ii) Recommend changes to the logistics of dividend distribution as currently specified in 17 §§ 23-82.1-5(b) and (c) in order to more fully account for equity in the needs of residents and 18 consumers, especially low-income residents. 19 (2) In addition to the revenue generated by § 23-82.1-3, the board may: 20 (i) Accept and administer grants from both public and private sources for the carrying out 21 of any of its functions, which loans or grants shall not be expended for other than the purposes for 22 which provided; and 23 (ii) Apply for, accept and expend allocations, grants and bequests of funds for the purpose 24 of carrying out the responsibilities of the board. 25 23-82.1-5. Economic and Climate Resilience Fund Uses. 26 (a) The Rhode Island infrastructure bank, under the auspices of the economic and climate 27 resilience fund oversight board pursuant to § 23-82.1-4, shall use the funds from the economic and 28 climate resilience fund as follows: 29 (1) Twenty-eight percent (28%) shall go to support climate resilience, renewable energy, 30 energy efficiency, climate adaptation, and low carbon transition initiatives in Rhode Island: 31 (i) At least one-third (1/3) of funding from the twenty-eight percent (28%) of the economic 32 and climate resilience fund that shall be distributed to resilience and renewable energy programs 33 shall be distributed to neighborhoods, municipalities, groups of municipalities, or regional agencies 34 representing neighborhoods or municipalities whose median incomes per household are in the LC004189 - Page 8 of 12 1 lowest third (1/3) of median incomes for all municipalities in the state. 2 (ii) For purposes of this subsection, to calculate the lowest third (1/3), the median income 3 of each municipality shall be weighted by the number of households in the municipality. When 4 possible, distribution shall prioritize assisting municipalities with existing climate action plans in 5 renewable energy and efficiency projects. A training session for municipal planners relating to 6 implementing resilience and renewable energy programs shall be a prerequisite for the 7 municipalities to receive funds. 8 (2) Thirty percent (30%) shall be used to provide direct dividends to employers in the state, 9 in the manner specified in subsections (b) and (d) of this section; 10 (3) Forty percent (40%) shall be used to provide direct dividends to residents in the state, 11 in the manner specified in subsections (b) and (c) of this section; 12 (4) Up to two percent (2%) shall be used to pay for administrative costs associated with 13 collecting the charges, administering the economic and climate resilience fund, and carrying out 14 other responsibilities assigned to the office of energy resources and department of revenue under 15 this chapter. Any unexpended revenue from this two percent (2%) shall be reallocated to climate 16 resilience and renewable energy programs, pursuant to § 23-82.1-5(a)(1). None of said proceeds 17 shall fund government operations or obligations other than to pay for reasonable administrative 18 costs in connection with the Economic and Climate Resilience Act of 2026 which should not be 19 higher than two percent (2%) of revenue collected. From the period commencing on the effective 20 date of this chapter through the implementation of the regulations necessary for the collection of 21 fees provided for under this chapter, the administrative allocation shall be the actual administrative 22 cost, and the amount of revenue directed to the climate resilience and renewable energy program 23 shall be reduced by the amount above two percent (2%) that is used for administrative costs. 24 (b) The dividends specified above shall be implemented, at the discretion of the director of 25 revenue, through a refundable credit added to tax returns for residents and employers that file tax 26 returns. For residents and employers without tax filings, dividends shall be granted in the form of 27 direct checks. The director of revenue shall make every reasonable effort to ensure that every 28 resident and employer, regardless of whether or not a particular resident or employer files tax 29 returns or actually owes taxes, including not-for-profit organizations and government entities, 30 receives a dividend. Dividends will be calculated based on the estimated increased total costs of 31 energy in Rhode Island and distributed at the beginning of each year. The first set of dividends shall 32 be distributed before the implementation date based on estimated increased costs for the period of 33 January 1 through December 31 of that year, which may be subject to cost reconciliation based on 34 actual total costs by June 30 of that year. LC004189 - Page 9 of 12 1 (c) The resident dividends shall be determined as follows: 2 (1) Fifty percent (50%) of the funds reserved for residents shall be returned in equal 3 amounts to residents in the state of Rhode Island whose incomes fall in the lowest one-third (1/3) 4 of after-tax incomes. Every resident in this one-third (1/3) shall receive an equal dividend amount. 5 Every resident in this one-third (1/3) who is a head of household with children or dependents under 6 the age of eighteen (18) shall have the dividend increased based on the number of children or 7 dependents under the age of eighteen (18) in residence, with each child adding the value of one 8 equal dividend amount. 9 (2) Thirty-five percent (35%) of the funds reserved for residents shall be returned in equal 10 amounts to residents in the state of Rhode Island whose incomes fall in the middle one-third (1/3) 11 of after-tax incomes. Every resident in this one-third (1/3) shall receive an equal dividend amount. 12 Every resident in this one-third (1/3) who is a head of household with children or dependents under 13 the age of eighteen (18) shall have the dividend increased based on the number of children or 14 dependents under the age of eighteen (18) in residence, with each child adding the value of one 15 equal dividend amount. 16 (3) Fifteen percent (15%) of the funds reserved for residents shall be returned in equal 17 amounts to residents in the state of Rhode Island whose incomes fall in the top one-third (1/3) of 18 after-tax incomes. Every resident in this one-third (1/3) shall receive an equal dividend amount. 19 Every resident in this one-third (1/3) who is a head of household with children or dependents under 20 the age of eighteen (18) shall have the dividend increased based on the number of children or 21 dependents under the age of eighteen (18) in residence, with each child adding the value of one 22 equal dividend amount. 23 (d) The employer dividends shall be determined as follows: 24 (1) Seventy percent (70%) of the funds reserved for employers shall be distributed to 25 employers in an amount proportional, in terms of full-time equivalent employees, to the employer s 26 share of total employment in the state. 27 (2) Thirty (30%) of the funds reserved for employers shall be additionally distributed to 28 employers identified by the office of energy resources as energy intensive, trade exposed, or most 29 vulnerable to fuel cost increases, which employers shall include, but not be limited to, the fishing 30 and agriculture industries. 31 (e) Residents and businesses will be given the option to opt out of receiving all or part of 32 their dividend payment to allow assistance to low-income residents so they do not experience 33 increased energy costs. 34 (f) The director of revenue shall issue a public report, submitted to the governor, the LC004189 - Page 10 of 12 1 speaker of the house, and the senate president, by December 31 of each year commencing with 2 2027, stating the expenditures from the economic and climate resilience fund for the most recently 3 completed fiscal year and plans to distribute the balance remaining in the fund, if any. 4 23-82.1-6. Promulgation of rules. 5 The department of revenue, office of energy resources, and any other state agency or 6 instrumentality designated by this chapter or by the director of administration to perform functions 7 or duties to effectuate the purposes and functions of this chapter are hereby authorized to adopt, in 8 accordance with the provisions of chapter 35 of title 42, administer, and enforce any rules necessary 9 or convenient to carry out the purposes of this chapter. 10 23-82.1-7. Implementation. 11 The implementation of the provisions of this chapter shall commence upon initial regional 12 carbon fee enactment. 13 SECTION 4. This act shall take effect on July 1, 2027. ======== LC004189 ======== LC004189 - Page 11 of 12 EXPLANATION BY THE LEGISLATIVE COUNCIL OF A N A C T RELATING TO HEALTH AND SAFETY -- ECONOMIC AND CLIMATE RESILIENCE ACT OF 2026 *** 1 This act would establish a fee on companies that sell fossil fuels in Rhode Island, paid at 2 the point of sale within the state for consumption or distribution within the state. This act would 3 also establish an economic and climate resilience fund to disburse the collected funds. The funds 4 would be disbursed through dividends to all residents and businesses in the state as well as allocated 5 to climate resilience, renewable energy, energy efficiency, and climate adaptation programs that 6 benefit Rhode Islanders, including low-income residents and small businesses. This act would take 7 effect upon the enactment of a fee of at least five dollars ($5.00) per metric ton of carbon by the 8 legislatures of at least three (3) states: Rhode Island, Massachusetts, and one or more additional 9 states in the Regional Greenhouse Gas Initiative (RGGI). 10 This act would take effect on July 1, 2027. ======== LC004189 ======== LC004189 - Page 12 of 12