Imposes, at the time of the first taxable event and upon the first taxable person within this state, a fossil fuel carbon pollution tax upon the carbon content of fossil fuels extracted, manufactured, or introduced into this state.

Exempts the following from the tax: (1) Fossil fuels used for air or marine travel between this state and a jurisdiction outside the geographic borders of this state;

(2) Fossil fuels purchased in this state for export for use outside the state; and

(3) Fossil fuels brought into this state by means of the fuel supply tank of a motor vehicle, vessel, locomotive, or aircraft.

Requires taxes collected under the fossil fuel carbon pollution tax to be deposited in the education legacy trust account.