SEATTLE (Recycling Monster): The New York legislators are likely to pass legislation aimed at limiting the use of single-use plastic packaging in the state by this weekend, after a bill printing error called for amendment and delay. The printing error on the Packaging and Recycling Infrastructure Act has been fixed now.

Reportedly, senior staff of legislative leaders have negotiated the bill for days in order to reach a two-way agreement without the Executive Chamber. It was first updated late Monday.

As per the bill, companies with net income in excess of $5 million are required to cut their plastic packaging by 30% over the period of next 12-year period. The bill also bans as many as 17 toxic chemicals commonly found in food packaging.

The measure aims to create an extended producer responsibility (EPR) system, which in turn will require packaging producers to cover the costs of consumer waste and reduce used toxins. The money collected from companies will go into a fund which will provide support to recycling systems and boost existing recycling infrastructure.

The bill promises to deliver significant environmental benefits and historic reduction in packaging waste volumes. Furthermore, the bill will result in significant taxpayer savings as well.

However the state business leaders are furious over the bill. They raised concerns about compliance costs.