Bill Text: NY S06268 | 2021-2022 | General Assembly | Amended
Bill Title: Prohibits proceeds from the auction or sale of carbon dioxide emission allowances pursuant to New York's participation in the regional greenhouse gas initiative (RGGI) from being transferred into the state general fund; provides that if such proceeds are transferred to the state general fund, they shall be used for the purposes directed by the RGGI.
Spectrum: Partisan Bill (Democrat 9-0)
Status: (Introduced - Dead) 2022-03-08 - PRINT NUMBER 6268B [S06268 Detail]
Download: New_York-2021-S06268-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 6268--B 2021-2022 Regular Sessions IN SENATE April 20, 2021 ___________ Introduced by Sens. MAY, BIAGGI, HARCKHAM, HINCHEY, HOYLMAN, KRUEGER, MYRIE, REICHLIN-MELNICK, SEPULVEDA -- read twice and ordered printed, and when printed to be committed to the Committee on Energy and Tele- communications -- reported favorably from said committee and committed to the Committee on Finance -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee -- recommitted to the Committee on Energy and Telecommunications in accordance with Senate Rule 6, sec. 8 -- reported favorably from said committee and committed to the Committee on Finance -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the public authorities law, in relation to proceeds from the auction or sale of carbon dioxide emission allowances The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. The public authorities law is amended by adding a new 2 section 1874 to read as follows: 3 § 1874. Carbon dioxide emission allowances. Notwithstanding any other 4 law, rule, or regulation to the contrary, proceeds collected by the 5 authority from the auction or sale of carbon dioxide emission allowances 6 allocated by the department of environmental conservation pursuant to 7 the regional greenhouse gas initiative (RGGI), implemented in New York 8 state pursuant to 21 NYCRR part 507, shall be deposited into the energy 9 efficiency and clean energy technology account established pursuant to 10 21 NYCRR part 507.4. Such proceeds shall not be moved, transferred, or 11 otherwise allocated to the state treasury to the credit of the state 12 general fund; provided, however, that if such proceeds are moved, trans- 13 ferred, or otherwise allocated to the state treasury to the credit of 14 the state general fund: (a) such proceeds shall be used for the purposes 15 directed under 21 NYCRR part 507.4; and (b) the state comptroller shall 16 submit a report to the temporary president of the senate, the speaker of 17 the assembly, and the governor containing a detailed description of the 18 use of such proceeds. 19 § 2. This act shall take effect on March 31, 2023. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD10938-05-1