Relating to taxation; prescribing an effective date.

Declares policy of state to encourage sustainable growth by funding reduction of certain taxes with imposition of tax on amount of carbon dioxide equivalent emissions from combustion of certain carbon-based fuels. Imposes tax on each fuel supplier and utility based on amount of carbon dioxide equivalent emissions from combustion of carbon-based fuel that is sold by fuel supplier to consumers in state or that is used to produce carbon-generated electricity supplied by utility to consumers in state. Limits tax on certain oil and natural gas to six percent of market value of oil or natural gas. Distributes moneys collected from tax to General Fund, unless other distribution required under Oregon Constitution. Modifies personal income tax rates for certain taxpayers by modifying income tax brackets. First applies beginning on or after January 1, 2019. Takes effect on 91st day following adjournment sine die.