Accelerating a Circular Economy for Plastics and Recycling Innovation Act of 2024

This bill establishes national standards for plastic recycling and requires marketers to use a minimum percentage of recycled plastic in their packaging portfolios, starting at 30% by 2030. It creates a certification system to verify recycled content and a labeling program allowing marketers to display "% EPA Certified Balanced Recycled Plastics" on packaging. The bill defines "advanced recycling" as a manufacturing process (not waste management) that converts plastic waste into new materials and requires it to be regulated under environmental laws. Marketers that fail to meet the mandate face annual penalties calculated based on their shortfall, with the penalty amount increasing as the percentage of shortfall grows.