LD 1398 LR 1934(06)
An Act To Reduce Electric Rates for Maine Businesses
Fiscal Note for Bill as Engrossed with:
C "A" (S-422)
S "A" (S-471) to C "A" (S-422)
Committee: Energy, Utilities and Technology
Fiscal Note
FY 2015-16 FY 2016-17 Projections  FY 2017-18 Projections  FY 2018-19
Other Special Revenue Funds $0 $3,000,000 $3,000,000 $3,000,000
Other Special Revenue Funds $0 $3,000,000 $3,000,000 $3,000,000
Fiscal Detail and Notes
The bill transfers $3,000,000 in each of fiscal years 2016-17, 2017-18 and 2018-19 from the Regional Greenhouse Gas Initiative Trust Fund (RGGI Fund) within Efficiency Maine Trust to the Public Utilities Commission (PUC) to be used for disbursements to certain customers. The RGGI Fund has sufficient resources to make these transfers. This bill also directs the RGGI Fund to expend 50% of its funds for residential programs and 50% for commercial and industrial programs. There is no estimate at this time on the amount of funds to be expended from the RGGI Fund. The bill also requires the PUC to conduct an expedited proceeding to determine the inital allocation of disbursements to certain customers. The bill provides a $3,000,000 Other Special Revenue Funds allocation in fiscal year 2016-17 to the Public Utilities Commission (PUC) to allow expenditure of money received from Efficiency Maine Trust for disbursements to certain impacted customers.