Bill S587-2013

Establishes the climate change solutions fund

Establishes the climate change solutions fund.

Details

Actions

  • Jan 8, 2014: REFERRED TO ENVIRONMENTAL CONSERVATION
  • Jan 9, 2013: REFERRED TO ENVIRONMENTAL CONSERVATION

Memo

BILL NUMBER:S587

TITLE OF BILL: An act to amend the environmental conservation law and the state finance law, in relation to the climate change solutions fund

PURPOSE OR GENERAL IDEA OF BILL: This bill would create the Climate Change Solutions Fund within the state finance law to receive proceeds from the auction of emissions allowances, specifically those associated with the Regional Greenhouse Gas Initiative (RGGI).

SUMMARY OF SPECIFIC PROVISIONS: This bill would:

* provide for the deposit of revenues raised from the auction of any emissions allowances by the Commissioner of the Department of Environmental Conservation (DEC) into the Climate Change Solutions Fund;

* establish the Climate Change Solutions Fund in the state finance law and the following accounts within the Fund: a climate change transfer account; a greenhouse gas emission reduction account; an energy efficiency account; a renewable energy development account; and a clean air account; and,

* authorize monies in the fund to be spent pursuant to a program established by a new title 11 of article 19 of the environmental conservation law.

JUSTIFICATION: Global climate change threatens the environment, natural resources and economy of New York State. In an effort to reduce its contribution to global warming, the state has led the way in developing RGGI, a nine state cap and trade program to stabilize and reduce carbon dioxide emissions from electric generating facilities. In New York, one hundred percent of its carbon dioxide emissions allowance budget will be auctioned for consumer benefit. This bill establishes a special revenue fund within the state finance law to receive the proceeds of the auction and dedicates the funds for specific environmental purposes established in a new title 11 of the environmental conservation law.

PRIOR LEGISLATIVE HISTORY: 2012: Senate Bill 1969 (Gianaris) - Died in Senate Environmental Conservation Committee 2012: Assembly Bill 1646 (Kavanagh) - Died in Assembly Environmental Conservation Committee 2009: Senate Bill 5641-A (Thompson) - Died in Senate Environmental Conservation Committee 2009: Assembly Bill *7017-A (Gianaris) - Passed Assembly 119-22 (5/5/09) 2008: Assembly Bill *7366-A (Gianaris) - Passed Assembly 115-24 (4/15/08); Passed Assembly 124-22 (4/23/07)

FISCAL IMPLICATIONS: To be determined.

EFFECTIVE DATE: Immediately or on the same date as a chapter of the laws of 2013 creating the climate change solutions program act, whichever is later.


Text

STATE OF NEW YORK ________________________________________________________________________ 587 2013-2014 Regular Sessions IN SENATE (PREFILED) January 9, 2013 ___________
Introduced by Sen. GIANARIS -- read twice and ordered printed, and when printed to be committed to the Committee on Environmental Conservation AN ACT to amend the environmental conservation law and the state finance law, in relation to the climate change solutions fund THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 19-0301 of the environmental conservation law is amended by adding a new paragraph g to read as follows: G. PROVIDE FOR THE DEPOSIT OF REVENUES FROM THE AUCTION OF ANY EMIS- SIONS ALLOWANCES FOR AIR CONTAMINANTS TO THE CLIMATE CHANGE SOLUTIONS FUND ESTABLISHED BY SECTION NINETY-TWO-T OF THE STATE FINANCE LAW. S 2. The state finance law is amended by adding a new section 92-t to read as follows: S 92-T. CLIMATE CHANGE SOLUTIONS FUND. 1. THERE IS HEREBY ESTABLISHED IN THE JOINT CUSTODY OF THE STATE COMPTROLLER AND THE COMMISSIONER OF TAXATION AND FINANCE A SPECIAL FUND TO BE KNOWN AS THE "CLIMATE CHANGE SOLUTIONS FUND". 2. THE CLIMATE CHANGE SOLUTIONS FUND SHALL CONSIST OF THE PROCEEDS COLLECTED FROM THE AUCTION OF ANY EMISSIONS ALLOWANCES FOR AIR CONTAM- INANTS AS PROVIDED FOR DEPOSIT INTO SUCH FUND UNDER SECTION 19-0301 OF THE ENVIRONMENTAL CONSERVATION LAW AND ANY INTEREST GENERATED BY SUCH FUND AND ANY OTHER MONIES MADE AVAILABLE FOR SUCH PURPOSES. 3. ALL MONIES RECEIVED BY THE COMPTROLLER FOR DEPOSIT IN THE CLIMATE CHANGE SOLUTIONS FUND SHALL BE DEPOSITED FIRST TO THE CREDIT OF THE CLIMATE CHANGE TRANSFER ACCOUNT. NO MONIES SHALL BE EXPENDED FROM ANY SUCH ACCOUNT FOR ANY PROJECT EXCEPT PURSUANT TO APPROPRIATION BY THE LEGISLATURE. A. ALL MONEYS HERETOFORE AND HEREAFTER DEPOSITED IN THE CLIMATE CHANGE TRANSFER ACCOUNT SHALL BE TRANSFERRED BY THE COMPTROLLER TO THE ENERGY
EFFICIENCY ACCOUNT, THE RENEWABLE ENERGY DEVELOPMENT ACCOUNT, THE GREEN- HOUSE GAS EMISSION REDUCTION ACCOUNT OR THE CLEAN AIR ACCOUNT. B. MONEYS FROM THE GREENHOUSE GAS EMISSION REDUCTION ACCOUNT SHALL BE AVAILABLE, PURSUANT TO APPROPRIATION, FOR ANY GREENHOUSE GAS EMISSION REDUCTION PROJECT, AS DEFINED IN SECTION 19-1307 OF THE ENVIRONMENTAL CONSERVATION LAW. C. MONEYS FROM THE ENERGY EFFICIENCY ACCOUNT SHALL BE AVAILABLE, PURSUANT TO APPROPRIATION FOR ANY ENERGY EFFICIENCY PROJECT AS DEFINED IN SECTION 19-1309 OF THE ENVIRONMENTAL CONSERVATION LAW. D. MONEYS FROM THE RENEWABLE ENERGY DEVELOPMENT ACCOUNT SHALL BE AVAILABLE, PURSUANT TO APPROPRIATION, FOR ANY RENEWABLE ENERGY DEVELOP- MENT PROJECT, AS DEFINED IN SECTION 19-1311 OF THE ENVIRONMENTAL CONSER- VATION LAW. E. MONEYS FROM THE CLEAN AIR ACCOUNT SHALL BE AVAILABLE, PURSUANT TO APPROPRIATION, FOR ANY CLEAN AIR TECHNOLOGY PROJECT, AS DEFINED IN SECTION 19-1313 OF THE ENVIRONMENTAL CONSERVATION LAW. 4. MONEYS IN THE CLIMATE CHANGE SOLUTIONS FUND SHALL BE KEPT SEPARATE AND SHALL NOT BE COMMINGLED WITH ANY OTHER MONEYS IN THE CUSTODY OF THE COMPTROLLER. 5. ALL PAYMENTS OF MONEYS FROM THE FUND SHALL BE MADE ON THE AUDIT AND THE WARRANT OF THE COMPTROLLER. S 3. This act shall take effect immediately or on the same date as a chapter of the laws of 2013, entitled "AN ACT to amend the environmental conservation law, in relation to establishing the climate change solutions program act", whichever is later.

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