Bill Text: NJ SCR157 | 2010-2011 | Regular Session | Introduced
Bill Title: Amends Constitution to dedicate proceeds from auction of greenhouse gas emissions allowances for purposes specified in law.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Introduced - Dead) 2011-05-12 - Introduced in the Senate, Referred to Senate Environment and Energy Committee [SCR157 Detail]
Download: New_Jersey-2010-SCR157-Introduced.html
Sponsored by:
Senator BOB SMITH
District 17 (Middlesex and Somerset)
Senator STEPHEN M. SWEENEY
District 3 (Salem, Cumberland and Gloucester)
SYNOPSIS
Amends Constitution to dedicate proceeds from auction of greenhouse gas emissions allowances for purposes specified in law.
CURRENT VERSION OF TEXT
As introduced.
A Concurrent Resolution proposing to amend Article VIII, Section II, of the Constitution of the State of New Jersey.
Be It Resolved by the Senate of the State of New Jersey (the General Assembly concurring):
1. The following proposed amendment to the Constitution of the State of New Jersey is agreed to:
PROPOSED AMENDMENT
Amend Article VIII, Section II, by addition of a new paragraph 9 to read as follows:
9. a. There shall be credited to a special account in the General Fund all revenue derived from the proceeds received from the auction of greenhouse gas emissions allowances pursuant to P.L.2007, c.340 (C.26:2C-45 et seq.) or any other State law of similar effect.
The amount credited pursuant to this paragraph, and any interest or other investment income realized therefrom, shall be dedicated and shall be appropriated from time to time by the Legislature only for the purpose of providing funding, including grants and other forms of financial assistance, for programs to reduce the generation and emission of greenhouse gases.
(1) Sixty percent shall be allocated to support end-use energy efficiency projects and new, efficient electric generation facilities that are state of the art, as determined by the department, including but not limited to energy efficiency and renewable energy applications, to develop combined heat and power production and other high efficiency electric generation facilities, to stimulate or reward investment in the development of innovative carbon emissions abatement technologies with significant carbon emissions reduction or avoidance potential, to develop qualified offshore wind projects, and to provide financial assistance to manufacturers of equipment associated with qualified offshore wind projects;
(2) Twenty percent shall be allocated to support programs designed to reduce electricity demand or costs to electricity customers in the low-income and moderate-income residential sector with a focus on urban areas, including efforts to address heat island effect and reduce impacts on ratepayers attributable to the implementation of a greenhouse gas emissions allowance trading program pursuant to law;
(3) Ten percent shall be allocated to support programs designed to promote local government efforts to plan, develop and implement measures to reduce greenhouse gas emissions, including but not limited to technical assistance to local governments, and the awarding of grants and other forms of assistance to local governments to conduct and implement energy efficiency, renewable energy, and distributed energy programs and land use planning where the grant or assistance results in a measurable reduction of the emission of greenhouse gases or a measurable reduction in energy demand;
(4) Ten percent shall be allocated to support programs that enhance the stewardship and restoration of the State's forests and tidal marshes that provide important opportunities to sequester or reduce greenhouse gases; and
(5) Up to four percent of the total amount in the fund each year shall be allocated to support administrative costs, justifiable and approved in the annual budget process, incurred by in administering programs to reduce the emissions of greenhouse gases.
b. It shall not be competent for the Legislature, under any pretense whatever, to borrow, appropriate, or use the amount credited to the special account pursuant to this paragraph, or any portion thereof, for any purpose or in any manner other than as enumerated in this paragraph.
c. All moneys derived from repayments of any loan issued from the amount dedicated pursuant to this paragraph, and any interest earned or other investment income realized from such loan repayments after repayment, shall be dedicated, and shall be appropriated from time to time by the Legislature, only for the purposes authorized pursuant to this paragraph.
2. When this proposed amendment to the Constitution is finally agreed to pursuant to Article IX, paragraph 1 of the Constitution, it shall be submitted to the people at the next general election occurring more than three months after the final agreement and shall be published at least once in at least one newspaper of each county designated by the President of the Senate, the Speaker of the General Assembly and the Secretary of State, not less than three months prior to the general election.
3. This proposed amendment to the Constitution shall be submitted to the people at that election in the following manner and form:
There shall be printed on each official ballot to be used at the general election, the following:
a. In every municipality in which voting machines are not used, a legend which shall immediately precede the question as follows:
If you favor the proposition printed below make a cross (X), plus (+), or check (a) in the square opposite the word "Yes." If you are opposed thereto make a cross (X), plus (+) or check (a) in the square opposite the word "No."
b. In every municipality the following question:
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DEDICATION OF PROCEEDS FROM AUCTION OF GREENHOUSE GAS EMISSIONS ALLOWANCES FOR GLOBAL WARMING SOLUTIONS FUND |
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YES |
Do you approve the amendment to Article VIII, Section II, of the Constitution of the State of New Jersey providing that all revenue obtained from the auction of greenhouse gas emissions allowances, as authorized by State law, be dedicated and appropriated by the Legislature only for certain purposes? The purposes are to provide funding, including grants and other forms of financial assistance, for programs to reduce the generation and emission of greenhouse gases. |
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INTERPRETIVE STATEMENT |
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NO
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Approval of this proposed constitutional amendment will require all money obtained from the auction of greenhouse gas emissions allowances to be used only for programs to reduce greenhouse gas emissions. Current law requires this money to be deposited into the "Global Warming Solutions Fund" and to be used for such programs, but does not constitutionally dedicate the funds in a manner that prevents their use for other purposes. |
STATEMENT
This concurrent resolution proposes an amendment to the State Constitution to require the State to dedicate all revenue derived from the proceeds received from the auction of greenhouse gas emissions allowances, authorized pursuant to P.L.2007, c.340 (C.26:2C-45 et seq.) (referred to as the "Regional Greenhouse Gas Initiative" or "RGGI") for programs to reduce the generation and emission of greenhouse gases.
The constitutional amendment would allocate the funds as follows: (1) 60 percent to support end-use energy efficiency projects and new, efficient electric generation facilities that are state of the art, as determined by the Department of Environmental Protection (DEP), including but not limited to energy efficiency and renewable energy applications, to develop combined heat and power production and other high efficiency electric generation facilities, and to stimulate or reward investment in the development of innovative carbon emissions abatement technologies with significant carbon emissions reduction or avoidance potential; (2) 20 percent to support programs designed to reduce electricity demand or costs to electricity customers in the low-income and moderate-income residential sector with a focus on urban areas, including efforts to address heat island effect and reduce impacts on ratepayers attributable to the implementation of a greenhouse gas emissions allowance trading program pursuant to law; (3) 10 percent to support programs designed to promote local government efforts to plan, develop and implement measures to reduce greenhouse gas emissions, including but not limited to technical assistance to local governments, and the awarding of grants and other forms of assistance to local governments to conduct and implement energy efficiency, renewable energy, and distributed energy programs and land use planning where the grant or assistance results in a measurable reduction of the emission of greenhouse gases or a measurable reduction in energy demand; (4) 10 percent to support programs that enhance the stewardship and restoration of the State's forests and tidal marshes that provide important opportunities to sequester or reduce greenhouse gases; and (5) up to four percent of the total amount in the fund each year to administrative costs, justifiable and approved in the annual budget process, incurred by the DEP, the Board of Public Utilities, and the New Jersey Economic Development Authority in administering programs to reduce the emissions of greenhouse gases.
The "Global Warming Solutions Fund" was established pursuant to the provisions of P.L.2007, c.340 as a special, nonlapsing fund to be credited with the moneys received as a result of any sale, exchange or other conveyance of allowances through a greenhouse gas emissions allowance trading program. According to the law, these moneys are to be used for the purposes, and at the allocated amounts, described above.
Approval of this constitutional amendment by the voters would prohibit the use of this money in the future for anything other than the purposes originally prescribed by section 7 of P.L.2007, c.340 (C.26:2C-51).
