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128th MAINE LEGISLATURE |
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LD 1745 |
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LR 2474(02) |
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An Act Regarding a
Biomass-generated Energy Purchase and Sale Agreement and Payments to
Contractors |
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Fiscal Note for
Bill as Amended by Committee Amendment " " |
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Committee: Energy, Utilities and Technology |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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FY 2017-18 |
FY 2018-19 |
Projections FY 2019-20 |
Projections FY 2020-21 |
| Appropriations/Allocations |
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Other Special Revenue Funds |
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$266,027 |
$500,000 |
$0 |
$0 |
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| Transfers |
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Other Special Revenue Funds |
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$0 |
$0 |
$0 |
$0 |
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| Fiscal Detail
and Notes |
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At the close of
fiscal year 2015-16 $13,400,000 was transferred from the unappropriated
surplus of the General Fund to the Cost Recovery Fund at the Public Utilities
Commission (PUC) to pay above-market costs of certain biomass contracts. This
bill moves any money remaining from the transfer that is determined by the
PUC to not be needed for the original purpose to be credited to the newly
created Wood Energy Fund within the Efficiency Maine Trust (EMT). The PUC has
determined that $766,027 is available to be directed into the Wood Energy
Fund at this time. Transfers in addition to the $766,027 may be made in the
future if the PUC makes certain determinations. |
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This bill includes
Other Special Revenue Funds allocations to the Wood Energy Fund within the
EMT of $266,027 in
fiscal year 2017-18 and $500,000 in fiscal year 2018-19 to provide incentives
and low or no-interest loans for new wood-derived thermal energy or
cogeneration projects. Additional costs to the Finance Authority of Maine to
consult with the EMT in the development of program incentives and
distribution of funds from the wood energy fund where appropriate can be
absorbed within existing budgeted resources. |
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