HOUSE OF REPRESENTATIVES

149th GENERAL ASSEMBLY

HOUSE BILL NO. 273

AN ACT TO AMEND TITLE 7 OF THE DELAWARE CODE RELATING TO FUNDS OF THE REGIONAL GREENHOUSE GAS INITIATIVE.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:

Section 1. Amend § 6046, Title 7 of the Delaware Code by making deletions as shown by strikethrough and insertions as shown by underline as follows:

§ 6046. Auction revenue.

(d) The Secretary of DNREC shall use annual auction proceeds to implement the cap-and-trade program, monitor emissions, allowances and offsets, and pay any expenses associated with the program including, but not limited to, expenses related to auctioning and tracking of allowances. This may include contracting with RGGI Inc., paying of dues to RGGI Inc., or transferring funds to RGGI Inc. should DNREC determine it appropriate for RGGI Inc. to undertake any action related to implementation of the program. Any auction proceeds directed to the Secretary of DNREC may also be used to fund climate change activities designed to reduce greenhouse gas emissions from all sectors of Delaware's economy and to maintain a public information program to educate Delawareans about the impacts of climate change on Delaware, and for any administrative costs associated with support of the SEU not otherwise provided for under § 8059 of Title 29.

(e) Notwithstanding any provision of this section to the contrary, the first $8 million in auction proceeds shall be directed to the General Fund.

Section 2. This Act expires on June 30, 2018 unless otherwise provided by a subsequent act of the General Assembly.

SYNOPSIS

This Act will direct the first $8 million in auction proceeds received from the sale of emission allowances through the regional Greenhouse Gas Initiative and CO2 Emission Trading Program to be directed to the General Fund for the fiscal year 2018. The balance of the funds will be directed to the Secretary of the Department of Natural Resources and Environmental Control to be directed for the public benefit in accordance with the goals and purposes of this initiative.