senate Bill S1969

2011-2012 Legislative Session

Establishes the climate change solutions fund

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Archive: Last Bill Status - In Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jan 04, 2012 referred to environmental conservation
Jan 14, 2011 referred to environmental conservation

S1969 - Bill Details

See Assembly Version of this Bill:
A1646
Current Committee:
Law Section:
Environmental Conservation Law
Laws Affected:
Amd §19-0301, En Con L; add §92-t, St Fin L
Versions Introduced in 2009-2010 Legislative Session:
S5641A, A7017A

S1969 - Bill Texts

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Establishes the climate change solutions fund.

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BILL NUMBER:S1969

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:
None.

FISCAL IMPLICATIONS:
To be determined.

EFFECTIVE DATE:
Immediately or on the same date as a chapter of the laws of
2011 creating the climate change solutions program act,
whichever is later.


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                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  1969

                       2011-2012 Regular Sessions

                            I N  S E N A T E

                            January 14, 2011
                               ___________

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

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04810-01-1

S. 1969                             2

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 2011, 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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