Relates to establishing a carbon dioxide emissions price for electric generation from carbon-based fuel and creating a carbon dioxide emissions fund

S 1347 establishes a price per ton of carbon dioxide emissions for electricity generated from carbon-based fuels (like coal and natural gas) in New York. This price, based on the state's social cost of carbon, would be paid by electricity generators using these fuels. Revenues collected would fund a new Carbon Dioxide Emissions Fund, with 60% distributed as tax credits to very low-to-moderate income residents (based on area median income) and 20% supporting renewable energy transitions in disadvantaged communities. The bill directly affects electricity generators using carbon-based fuels and aims to incorporate carbon pricing into New York's climate goals under the CLCPA.