Each specific location has carve outs and exemptions and phase-ins etc. but basically, farmers will be able to earn roughly $40 dollars per ton of emissions avoided, and other large industries will be paying $40 per ton of emissions and that figure will change as they measure progress to meet their commitments to reduce emmisions by 95%.
It might also drop to $30 if they link up their market with California and Quebec.
For comparison, the ballot measure intended to:
> enact a carbon emissions fee of $15 per metric ton of carbon beginning on January 1, 2020;
> increase the fee by $2 annually until the state's greenhouse gas reduction goals are met;
and
> use the revenue from the fee to fund various programs and projects related to the environment.
Source? It took me a few minutes to find what the piece of legislation was called (Climate Commitment Act), but it's surprisingly hard to find what the bill actually does. The first result I found was a website from the state of washington[1], which only contains vague statements like "A market-based solution" and "Cleaner air for overburdened communities", without actual concrete measures. The second result from washington state university[2] isn't much better. It seems like the bill institutes some sort of cap and trade system with details to be hammered out later, which isn't the same as a straight carbon tax (as proposed in the ballot measure) and the financial impact is much less clear. I suspect the latter is why it was passed at all.
[1] https://ecology.wa.gov/Air-Climate/Climate-Commitment-Act
[2] https://csanr.wsu.edu/the-climate-commitment-act-is-coming/