ASSUMPTIONS:
1.
Effective
upon the signature of the Governor.
2.
This
bill will result in the loss of revenue from proceeds of the sale of RGGI CO2
allowances as previously authorized under Senate Bill No. 263 of the 144th
General Assembly. Revenue from the sale
of RGGI CO2 is currently allocated towards the following programs:
·
65%
of allowance proceeds directed to the SEU for energy efficiency, conservation,
financing and renewable energy.
·
15%
of allowance proceeds directed to low income consumers through State
Weatherization (WAP) and administered fuel assistance (LIHEAP) programs;
·
10%
of allowance proceeds directed to Greenhouse Gas Reduction Projects;
·
10%
of allowance proceeds directed to DNREC for administering the program.
3.
Revenues
from RGGI are considered as Non-Appropriated Special Funds (NSF) and do not
impact the General Fund.
REVENUE
LOSS:
FY 2012 $7,700,000 (NSF)
FY 2013 $7,700,000 (NSF)
Office of
Controller General
(Amounts are shown in whole dollars)
May 2, 2011
jg:jg
4421460001