HB 4929

Creates the Privately-Owned Carbon Capture Device Rebate Act. Establishes a rebate program administered by the Environmental Protection Agency for eligible purchasers of privately-owned carbon capture devices that use biological processes, including microalgae photosynthesis, for residential use. Lists eligibility criteria for applicants and devices. Provides rebate amounts and timelines, prioritizing low-income applicants. Requires ownership and residency conditions and sets limits on rebate frequency. Authorizes auditing and reimbursement for noncompliance. Imposes a 5% user fee on device sales to fund rebates. Creates the Privately-Owned Carbon Capture Device Rebate Fund in the State treasury and amends the State Finance Act to add the Fund. Grants rulemaking authority to the Agency and the Department of Revenue. Effective immediately.