* § 99-qq. New York climate action fund. 1. There is hereby
established in the joint custody of the commissioner of taxation and
finance and the state comptroller a special fund to be known as the "New
York climate action fund".

2. The comptroller shall establish the following separate and distinct
accounts within the New York climate action fund:

(a) consumer climate action account;

(b) industrial small business climate action account; and

(c) climate investment account.

3. (a) The New York climate action fund consumer climate action
account shall consist of moneys received by the state pursuant to
paragraph (a) of subdivision twenty-five of section eighteen hundred
fifty-four of the public authorities law, and all other moneys
appropriated, credited, or transferred thereto from any other fund or
source pursuant to law. Moneys of the account shall be expended for the
purposes of providing benefits to help reduce potential increased costs
of various goods and services to consumers in the state.

(b) The New York climate action fund industrial small business climate
action account shall consist of moneys received by the state pursuant to
paragraph (b) of subdivision twenty-five of section eighteen hundred
fifty-four of the public authorities law, and all other moneys
appropriated, credited, or transferred thereto from any other fund or
source pursuant to law. Moneys of the account shall be expended for the
purposes of providing benefits to help reduce potential increased costs
of various goods and services to industrial small businesses
incorporated, formed or organized, and doing business in the state of
New York.

(c) The New York climate action fund climate investment account shall
consist of moneys received by the state pursuant to paragraph (c) of
subdivision twenty-five of section eighteen hundred fifty-four of the
public authorities law, and all other moneys appropriated, credited, or
transferred thereto from any other fund or source pursuant to law.
Moneys of the account shall be made available for the purposes of
assisting the state in transitioning to a less carbon intensive economy,
including but not limited to: (i) purposes which are consistent with the
general findings of the scoping plan prepared pursuant to section
75-0103 of the environmental conservation law; (ii) administrative and
implementation costs, auction design and support costs, program design,
evaluation, and other associated costs; and (iii) measures which
prioritize disadvantaged communities by supporting actions consistent
with the requirements of paragraph d of subdivision three of section
75-0109 and of section 75-0117 of the environmental conservation law,
identified through community decision-making and stakeholder input,
including early action to reduce greenhouse gas emissions in
disadvantaged communities.

4. Moneys in the New York climate action fund shall be kept separate
from and shall not be commingled with any other moneys in the custody of
the comptroller or the commissioner of taxation and finance. Provided,
however, that any moneys of the fund not required for immediate use may,
at the discretion of the comptroller, in consultation with the director
of the division of budget, be invested by the comptroller in obligations
of the United States or the state. The proceeds of any such investment
shall be retained by the fund as assets to be used for purposes of the
fund.

* NB There are 2 § 99-qq's