129th MAINE LEGISLATURE
LD 754 LR 1493(02)
An Act To Ensure the Regional Greenhouse Gas Initiative Trust Fund Continues To Promote Energy Efficiency and Benefit Maine Ratepayers
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Energy, Utilities and Technology
Fiscal Note Required: Yes
             
Fiscal Note
FY 2019-20 FY 2020-21 Projections  FY 2021-22 Projections  FY 2022-23
Appropriations/Allocations
Other Special Revenue Funds $0 $3,470,548 $1,639,519 $1,639,519
Revenue
Other Special Revenue Funds $1,767,282 $1,703,266 $1,639,519 $1,639,519
Fiscal Detail and Notes
This bill would establish a limit on energy efficiency spending from the Regional Greenhouse Gas Initiative Trust Fund (RGGI), within the Efficiency Maine Trust (EMT), of $5 per carbon dioxide allowance and would the transfer revenue in excess of $5 per carbon dioxide allowance from the RGGI to the Public Utilities Commission (PUC) to be used for disbursements to affected customers, energy-intensive businesses and ratepayers.   EMT estimates that the excess revenue from the sale of carbon dioxide allowances will generate $1,767,282 in fiscal year 2019-20 and $1,703,266 in fiscal year 2020-21.  The bill includes an Other Special Revenue Funds allocation of $3,470,548 in fiscal year 2020-21 to the PUC to allow the expenditure of the money from EMT for disbursements to customers, business and ratepayers.