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SD 2599

An Act relative to the creation of the Carbon Sequestration Support Fund

194th Legislature (2025-2026) Introduced by Bruce Tarr

Creates the Carbon Sequestration Support Fund to award grants that increase carbon sequestration in Massachusetts.

House concurred
0
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Bill Summary · SD 2599

Summary: An Act relative to the creation of the Carbon Sequestration Support Fund (SD 2599)

Overview

This proposed Massachusetts bill would establish a new fund named the Carbon Sequestration Support Fund. The fund would be created to provide grants aimed at increasing the sequestration of carbon from the atmosphere. The bill as introduced contains a single, foundational provision establishing the fund and its broad purpose.

  • Bill Number: SD 2599
  • Title: An Act relative to the creation of the Carbon Sequestration Support Fund
  • Introduced: February 27, 2025
  • Status: House concurred
  • Primary sponsor (Senate): Bruce E. Tarr
  • Filed: January 17, 2025
  • Committee assignment (initial): Environment and Natural Resources (referenced in action)

Purpose and Intent

  • Establish a dedicated financial mechanism—the Carbon Sequestration Support Fund—on the Commonwealth’s books.
  • Create a mechanism to provide grants intended to support actions that increase carbon sequestration in the environment (i.e., removing or storing carbon from the atmosphere).

Key Provisions (as filed)

  • Establishment: The bill directs the creation of the Carbon Sequestration Support Fund within the state’s financial records.
  • Purpose of the Fund: To provide grants to support actions that increase the sequestration of carbon from the atmosphere.

Provisions not specified in the text

  • Funding sources: The bill does not identify initial or ongoing funding levels, sources of revenue, or appropriation authority.
  • Administrative structure: No governance body, management rules, or oversight provisions are described.
  • Eligibility and recipients: No criteria for grant eligibility, eligible projects, or competitive application processes are detailed.
  • Grant terms: No information on grant amounts, duration, reporting, or performance requirements.
  • Accountability and reporting: No reporting, audit, or sunset provisions are specified.

Impact and Beneficiaries

  • Potential Beneficiaries: Entities or projects seeking grants to advance carbon sequestration activities in Massachusetts.
  • Sectoral Reach: While unspecified, the fund could impact environmental, forestry, agricultural, energy, or research sectors involved in carbon sequestration, depending on future rules and appropriation.
  • Fiscal Impact: Unknown at this stage due to lack of funding details; any fiscal implications would depend on subsequent appropriations and implementing regulations.

Legislative History and Status

  • 2025-02-27: Referred to the Committee on Environment and Natural Resources ( Senate action)
  • 2025-02-27: House concurred (indicating alignment or agreement with Senate version up to that point)

Next Steps (If acted upon)

  • Committee deliberation and markup to establish funding, eligibility, and governance specifics.
  • Potential amendments to specify funding sources, administrative structure, grant criteria, and reporting requirements.
  • Possible floor debates and votes in both chambers, followed by any reconciliations and signature by the Governor.

This summary reflects the text as filed and its stated purpose: to create a fund dedicated to grants for carbon sequestration efforts. Additional details would emerge through subsequent legislative amendments and enacted language.

Compiled from official sources — confirm details with the bill’s official record.

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