What is the official ID of this bill?
The official print number for this legislation is S 2645.
Plastic Tax: Supporting Recycling and Cleaner Environment
This act introduces a new tax on virgin plastic to encourage companies to use recycled materials. The collected funds will go into a special fund to finance plastic waste reduction and recycling infrastructure improvements. The goal is to reduce environmental pollution and support cleaner solutions.
Key points
New tax on virgin plastic: Manufacturers and importers of virgin plastic will pay a tax, starting at 10 cents per pound in 2022 and increasing to 20 cents (plus inflation) from 2025.
Higher costs for businesses: Companies producing or importing more than 10 tons of virgin plastic annually will be subject to this tax, potentially affecting prices of plastic-containing products.
Tax exemptions: Certain products, such as packaging for medicines, infant formula, medical products, hygiene products, or hazardous materials packaging, are exempt from the tax.
Plastic Waste Reduction Fund: Funds collected from the tax will go into the Plastic Waste Reduction Fund, which will finance recycling programs, marine debris cleanup, and environmental justice initiatives.
Support for recycling: The act aims to encourage the use of recycled plastic, as it is not subject to the new tax.
Status:
Expired
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