127th MAINE LEGISLATURE
		LD 1676		LR 2794(07)
	An Act To Establish a Process for Procurement of Renewable Resources
	Fiscal Note for Senate Amendment " " to Committee Amendment "A"
	Sponsor: Sen. Woodsome of York
	Fiscal Note Required: Yes
Fiscal Note
			FY 2015-16	FY 2016-17	Projections  FY 2017-18	Projections  FY 2018-19
Net Cost (Savings)
	General Fund		$13,400,000	$0	$0	$0
	General Fund - Maine Budget Stabilization Fund		$0	($6,700,000)	($6,700,000)	$0
Appropriations/Allocations
	Other Special Revenue Funds		$0	$6,700,000	($6,700,000)	$0
Transfers
	General Fund		($13,400,000)	$0	$0	$0
	General Fund - Maine Budget Stabilization Fund			$6,700,000	$6,700,000
	Other Special Revenue Funds		$13,400,000	($6,700,000)	($6,700,000)	$0
Fiscal Detail and Notes
	This amendment eliminates the $6,700,000 transfer from the Maine Budget Stabilization Fund to the Cost Recovery Fund within the Public Utilities Commission (PUC) in both fiscal year 2016-17 and 2017-18 and instead directs $13,400,000 to be transferred from the unappropriated surplus of the General Fund at the close of fiscal year 2015-16 following certain statutorily required transfers (the so-called "cascade"). There is no guarantee that there will be sufficient funds from the unappropriated surplus of the General Fund to make this transfer. In the event that there are insufficient funds in the Cost Recovery Fund, the amendment requires any above-market costs of a contract to be allocated to certain ratepayers. The amendment allows up to 50% of funds within the Cost Recovery Fund to go to the Northern Maine Independent System Administrator. This amendment also allows the PUC to not enter into any contract if a determination from the PUC is made that none of the bids are competitive. The amendment requires any funds remaining in the Cost Recovery Fund at the close of fiscal year 2016-17 be transferred to the Maine Budget Stabilization Fund.
	The amendment also adds an emergency preamble and clause, as well as eliminates the requirement that the PUC conduct a solicitation to procure certain energy.