Relates to the carbon dioxide allowance auction program

1 Co-sponsor

• James L. Seward

BILL NUMBER:S6185

Title of bill

An act to amend the public authorities law, in relation to certain programs of the New York state energy research and development authority

Purpose

To ensure that the monies collected under the state's Carbon Dioxide Allowance Auction, under the Regional Greenhouse Gas Initiative (RGGI) are spent are spent at appropriate levels in those counties who host carbon-intensive generating facilities and are therefore burdened by both the economic costs of the program and the potentially harmful effects of the emissions associated with those facilities.

Summary of provisions

Section 1: Sets forth the legislative intent.

Section 2: Requires NYSERDA to track revenues associated with the purchase of carbon off-sets to their geographic origin, and sets forth requirements for minimal levels of investment in carbon abatement projects in those affected counties. Further, this section makes allowances for Municipal electric corporations, rural electric cooperatives or other public power entities that may own their own generation to create their own carbon abatement programs.

Section 3: Sets forth the effective date.

Justification

The Regional Greenhouse Gas Initiative (RGGI) and its associated carbon off-set auction was created by the Executive Branch with the intent of reducing harmful emissions and providing revenue to fund energy efficiency programs and other carbon abatement programs that would support a clean energy economy These are laudable goals, and they are being carried out through various programs including on-bill recovery. However, little has been done, since the inception of the program to account for the costs to those communities who host carbon intensive electric generating facilities. These areas face the harsh economic reality of being dependent upon the jobs and tax base that the plant provides, even as said plants are facing higher and higher costs due to the requirements of the RGGI program At the same time, these communities are at ground zero in terms of the potentially negative impacts that the plants may produce as it relates to air quality and other environmental factors This bill seeks to ensure that those communities who pay the costs of the program-both economically and environmentally receive a minimum level of benefit in terms of job creation and environmental impact abatements.

Legislative history

This is a new bill.

Fiscal implications

None.

Effective date

This act shall take effect immediately.