This week, Bloomberg Law showcased a first-in-the-nation law just signed by New Jersey Governor Phil Murphy establishing a green concrete tax credit. The measure gives businesses a credit of up to 5% of a project’s total concrete cost if it uses materials with low levels of embodied carbon dioxide emissions. An extra 3% credit is available to companies that deliver concrete made with carbon capture, utilization, and storage technology.
Shawn LaTourette, Commissioner of the New Jersey Department of Environmental Protection, tells Bloomberg that he plans to start pitching the credit to other states. “We’ll look at this piece of legislation and our ability to share and cross-pollinate with other states,” said LaTourette, who chairs the ECOS Infrastructure Workgroup.
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