HB1374: relative to rebates to ratepayers from the renewable energy fund.

HB 1374 - AS INTRODUCED

2016 SESSION

16-2596

06/10

HOUSE BILL 1374

AN ACT relative to rebates to ratepayers from the renewable energy fund.

SPONSORS: Rep. Notter, Hills. 21; Rep. Baldasaro, Rock. 5; Rep. Tamburello, Rock. 5; Rep. W. O'Brien, Hills. 5; Rep. Stepanek, Hills. 22; Rep. Rappaport, Coos 1; Rep. Vadney, Belk. 2; Rep. Aldrich, Belk. 2; Rep. D. Thomas, Rock. 5

COMMITTEE: Science, Technology and Energy

ANALYSIS

This bill requires moneys paid into the renewable energy fund to be rebated to ratepayers.

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

16-2596

06/10

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Sixteen

AN ACT relative to rebates to ratepayers from the renewable energy fund.

Be it Enacted by the Senate and House of Representatives in General Court convened:

1 Electric Renewable Portfolio Standard; Renewable Energy Fund. Amend RSA 362-F:10, I to read as follows:

I. There is hereby established a renewable energy fund. This nonlapsing, special fund shall be continually appropriated to the commission to be expended in accordance with this section. The state treasurer shall invest the moneys deposited therein as provided by law. Income received on investments made by the state treasurer shall also be credited to the fund. All payments to be made under this section shall be deposited in the fund. The moneys paid into the fund under paragraph II of this section[, excluding class II moneys, shall be used by the commission to support thermal and electrical renewable energy initiatives. Class II moneys shall primarily be used to support solar energy technologies in New Hampshire. All initiatives supported out of these funds shall be subject to audit by the commission as deemed necessary], that are in excess of administration costs and incentive payments under paragraph V of this section, shall be rebated to all retail electric ratepayers in the state on a per-kilowatt-hour basis, in a timely manner to be determined by the commission. All fund moneys including those from class II may be used to administer this chapter, but all new employee positions shall be approved by the fiscal committee of the general court. No new employees shall be hired by the commission due to the inclusion of useful thermal energy in class I production.

2 Effective Date. This act shall take effect 60 days after its passage.