NY State Senate Bill 2021-S6268B

Archive: Last Bill Status - In Senate Committee Finance Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

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Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Mar 08, 2022	print number 6268b
Mar 08, 2022	amend and recommit to finance
Jan 31, 2022	reported and committed to finance
Jan 05, 2022	referred to energy and telecommunications
Jun 03, 2021	print number 6268a
Jun 03, 2021	amend and recommit to finance
May 10, 2021	reported and committed to finance
Apr 20, 2021	referred to energy and telecommunications

Votes

- May 10, 2022 - Finance Committee Vote
  S6268B
  
  22
  
  Aye
  
  0
  
  Nay
  
  0
  
  Aye with Reservations
  
  1
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Finance Committee Vote: May 10, 2022
      
      aye (22)
      
      Bailey
      
      Borrello
      
      Breslin
      
      Comrie
      
      Gallivan
      
      Gounardes
      
      Griffo
      
      Harckham
      
      Hoylman-Sigal
      
      Kennedy
      
      Krueger
      
      Liu
      
      O'Mara
      
      Ritchie
      
      Rivera
      
      Salazar
      
      Savino
      
      Serino
      
      Skoufis
      
      Stavisky
      
      Tedisco
      
      Thomas
      
      absent (1)
      
      Parker
  Jan 31, 2022 - Energy And Telecommunications Committee Vote
  S6268B
  
  8
  
  Aye
  
  0
  
  Nay
  
  1
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Energy And Telecommunications Committee Vote: Jan 31, 2022
      
      aye (8)
      
      Boyle
      
      Gaughran
      
      Harckham
      
      Hinchey
      
      Kavanagh
      
      Kennedy
      
      Parker
      
      Ritchie
      
      aye wr (1)
      
      O'Mara
  May 10, 2021 - Energy And Telecommunications Committee Vote
  S6268B
  
  9
  
  Aye
  
  0
  
  Nay
  
  0
  
  Aye with Reservations
  
  0
  
  Absent
  
  0
  
  Excused
  
  0
  
  Abstained
  - - Energy And Telecommunications Committee Vote: May 10, 2021
      
      aye (9)
      
      Boyle
      
      Gaughran
      
      Harckham
      
      Hinchey
      
      Kavanagh
      
      Kennedy
      
      O'Mara
      
      Parker
      
      Ritchie

Bill Amendments

Original

B (Active)

co-Sponsors

View additional co-sponsors

2021-S6268 - Details

See Assembly Version of this Bill:: A7611
Current Committee:: Senate Finance
Law Section:: Public Authorities Law
Laws Affected:: Add §1874, Pub Auth L
Versions Introduced in 2023-2024 Legislative Session:: S2073

2021-S6268 - Summary

Prohibits proceeds from the auction or sale of carbon dioxide emission allowances pursuant to New York's participation in the regional greenhouse gas initiative (RGGI) from being transferred into the state general fund; provides that if such proceeds are transferred to the state general fund, they shall be used for the purposes directed by the RGGI.

2021-S6268 - Sponsor Memo

                                
 
BILL NUMBER: S6268

SPONSOR: MAY
 
TITLE OF BILL:

An act to amend the public authorities law, in relation to proceeds from
the auction or sale of carbon dioxide emission allowances

 
PURPOSE:

The purpose of this bill is to ensure that climate and clean energy
funds raised by the state are not diverted or transferred for uses that
are inconsistent with their intended purpose.

 
SUMMARY OF PROVISIONS:

The public authorities law is amended to add a new section 1874 provid-
ing that funds received by the Regional Greenhouse Gas Initiative (RGGI)
shall be deposited in the energy efficiency and clean energy technology
account; further, the proceeds shall not be moved, transferred or other-
wise allocated to the credit of the general fund.

The proceeds from the auction or sale of carbon dioxide emission allow-
ances shall be used strictly for purposes set forth in 21 NYCRR Part
507.4 and if ever redirected to the general fund their use shall be
detailed in a report by the State Comptroller.

 
JUSTIFICATION:

Since 2015 over $200 million in RGGI proceeds have been transferred away
from the clean energy technology account and into the general fund
during the state budget process and used for other programs that are
inconsistent with their intended use. The Department of Environmental
Conservation regulates the RGGI program; NYSERDA administers the fund
where CO2 emission allowance proceeds are deposited. NYSERDA is charged
with using those funds to maximize reductions in greenhouse gases and
co-pollutants in disadvantaged communities. Furthermore, the targets set
by the state's new climate law, the CLCPA, make it even more critical
that clean energy funds be used for their intended purpose. The very
goals set forth in our state's nation-leading climate law are being
undermined by the pattern of redirecting or `sweeping' of RGGI proceeds
into the general fund, necessitating this legislation to codify their
intended use - supporting disadvantaged communities in the transition
away from fossil fuels.

 
FISCAL IMPLICATIONS:

Neutral to the state. The legislation only affirms that deposit of annu-
al proceeds from the auction or sale of CO2 emission credits be made
into the appropriate account and used for their intended purpose.

 
EFFECTIVE DATE:
Immediately

2021-S6268 - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   6268
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                              April 20, 2021
                                ___________
 
 Introduced  by  Sen.  MAY  --  read  twice and ordered printed, and when
   printed to be committed to the Committee on  Energy  and  Telecommuni-
   cations
 
 AN ACT to amend the public authorities law, in relation to proceeds from
   the auction or sale of carbon dioxide emission allowances

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The public authorities law  is  amended  by  adding  a  new
 section 1874 to read as follows:
   §  1874. CARBON DIOXIDE EMISSION ALLOWANCES. NOTWITHSTANDING ANY OTHER
 LAW, RULE, OR REGULATION TO THE  CONTRARY,  PROCEEDS  COLLECTED  BY  THE
 AUTHORITY FROM THE AUCTION OR SALE OF CARBON DIOXIDE EMISSION ALLOWANCES
 ALLOCATED  BY  THE  DEPARTMENT OF ENVIRONMENTAL CONSERVATION PURSUANT TO
 THE REGIONAL GREENHOUSE GAS INITIATIVE (RGGI), IMPLEMENTED IN  NEW  YORK
 STATE  PURSUANT TO 21 NYCRR PART 507, SHALL BE DEPOSITED INTO THE ENERGY
 EFFICIENCY AND CLEAN ENERGY TECHNOLOGY ACCOUNT ESTABLISHED  PURSUANT  TO
 21  NYCRR  PART 507.4. SUCH PROCEEDS SHALL NOT BE MOVED, TRANSFERRED, OR
 OTHERWISE ALLOCATED TO THE STATE TREASURY TO THE  CREDIT  OF  THE  STATE
 GENERAL FUND; PROVIDED, HOWEVER, THAT IF SUCH PROCEEDS ARE MOVED, TRANS-
 FERRED,  OR  OTHERWISE  ALLOCATED TO THE STATE TREASURY TO THE CREDIT OF
 THE STATE GENERAL FUND: (A) SUCH PROCEEDS SHALL BE USED FOR THE PURPOSES
 DIRECTED UNDER 21 NYCRR PART 507.4; AND (B) THE STATE COMPTROLLER  SHALL
 SUBMIT A REPORT TO THE TEMPORARY PRESIDENT OF THE SENATE, THE SPEAKER OF
 THE  ASSEMBLY, AND THE GOVERNOR CONTAINING A DETAILED DESCRIPTION OF THE
 USE OF SUCH PROCEEDS.
   § 2. This act shall take effect immediately.
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10938-01-1

co-Sponsors

View additional co-sponsors

2021-S6268A - Details

See Assembly Version of this Bill:: A7611
Current Committee:: Senate Finance
Law Section:: Public Authorities Law
Laws Affected:: Add §1874, Pub Auth L
Versions Introduced in 2023-2024 Legislative Session:: S2073

2021-S6268A - Summary

2021-S6268A - Sponsor Memo

                                
 
BILL NUMBER: S6268A

SPONSOR: MAY
 
TITLE OF BILL:

An act to amend the public authorities law, in relation to proceeds from
the auction or sale of carbon dioxide emission allowances

 
PURPOSE:  The purpose of this bill is to ensure that climate and clean
energy funds raised by the state are not diverted or transferred for
uses that are inconsistent with their intended purpose.

 
SUMMARY OF PROVISIONS:

The public authorities law is amended to add a new section 1874 provid-
ing that funds received by the Regional Greenhouse Gas Initiative (RGGI)
shall be deposited in the energy efficiency and clean energy technology
account; further, the proceeds shall not be moved, transferred or other-
wise allocated to the credit of the general fund.

The proceeds from the auction or sale of carbon dioxide emission allow-

ances shall be used strictly for purposes set forth in 21 NYCRR Part
507.4 and if ever redirected to the general fund their use shall be
detailed in a report by the State Comptroller.

**The amendment adjusts the effective date to March31, 2022.

 
JUSTIFICATION:

Since 2015 over $200 million in RGGI proceeds have been transferred away
from the clean energy technology account and into the general fund
during the state budget process and used for other programs that are
inconsistent with their intended use. The Department of Environmental
Conservation regulates the RGGI program; NYSERDA administers the fund
where CO2 emission allowance proceeds are deposited. NYSERDA is charged
with using those funds to maximize reductions in greenhouse gases and
co-pollutants in disadvantaged communities. Furthermore, the targets set
by the state's new climate law, the CLCPA, make it even more critical
that clean energy funds be used for their intended purpose. The very
goals set forth in our state's nation-leading climate law are being
undermined by the pattern of redirecting or `sweeping' of RGGI proceeds
into the general fund, necessitating this legislation to codify their
intended use - supporting disadvantaged communities in the transition
away from fossil fuels.

 
FISCAL IMPLICATIONS:

To be determined.

 
EFFECTIVE DATE:
March 31, 2022

2021-S6268A - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6268--A
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                              April 20, 2021
                                ___________
 
 Introduced   by   Sens.   MAY,   HARCKHAM,   HOYLMAN,   KRUEGER,  MYRIE,
   REICHLIN-MELNICK, SEPULVEDA -- read twice  and  ordered  printed,  and
   when printed to be committed to the Committee on Energy and Telecommu-
   nications  --  reported favorably from said committee and committed to
   the Committee  on  Finance  --  committee  discharged,  bill  amended,
   ordered reprinted as amended and recommitted to said committee
 
 AN ACT to amend the public authorities law, in relation to proceeds from
   the auction or sale of carbon dioxide emission allowances
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The public authorities law  is  amended  by  adding  a  new
 section 1874 to read as follows:
   §  1874. CARBON DIOXIDE EMISSION ALLOWANCES. NOTWITHSTANDING ANY OTHER
 LAW, RULE, OR REGULATION TO THE  CONTRARY,  PROCEEDS  COLLECTED  BY  THE
 AUTHORITY FROM THE AUCTION OR SALE OF CARBON DIOXIDE EMISSION ALLOWANCES
 ALLOCATED  BY  THE  DEPARTMENT OF ENVIRONMENTAL CONSERVATION PURSUANT TO
 THE REGIONAL GREENHOUSE GAS INITIATIVE (RGGI), IMPLEMENTED IN  NEW  YORK
 STATE  PURSUANT TO 21 NYCRR PART 507, SHALL BE DEPOSITED INTO THE ENERGY
 EFFICIENCY AND CLEAN ENERGY TECHNOLOGY ACCOUNT ESTABLISHED  PURSUANT  TO
 21  NYCRR  PART 507.4. SUCH PROCEEDS SHALL NOT BE MOVED, TRANSFERRED, OR
 OTHERWISE ALLOCATED TO THE STATE TREASURY TO THE  CREDIT  OF  THE  STATE
 GENERAL FUND; PROVIDED, HOWEVER, THAT IF SUCH PROCEEDS ARE MOVED, TRANS-
 FERRED,  OR  OTHERWISE  ALLOCATED TO THE STATE TREASURY TO THE CREDIT OF
 THE STATE GENERAL FUND: (A) SUCH PROCEEDS SHALL BE USED FOR THE PURPOSES
 DIRECTED UNDER 21 NYCRR PART 507.4; AND (B) THE STATE COMPTROLLER  SHALL
 SUBMIT A REPORT TO THE TEMPORARY PRESIDENT OF THE SENATE, THE SPEAKER OF
 THE  ASSEMBLY, AND THE GOVERNOR CONTAINING A DETAILED DESCRIPTION OF THE
 USE OF SUCH PROCEEDS.
   § 2. This act shall take effect on March 31, 2022.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10938-03-1

co-Sponsors

View additional co-sponsors

2021-S6268B (ACTIVE) - Details

See Assembly Version of this Bill:: A7611
Current Committee:: Senate Finance
Law Section:: Public Authorities Law
Laws Affected:: Add §1874, Pub Auth L
Versions Introduced in 2023-2024 Legislative Session:: S2073

2021-S6268B (ACTIVE) - Summary

2021-S6268B (ACTIVE) - Sponsor Memo

                                 
BILL NUMBER: S6268B

SPONSOR: MAY
 
TITLE OF BILL:

An act to amend the public authorities law, in relation to proceeds from
the auction or sale of carbon dioxide emission allowances

 
PURPOSE:

The purpose of this bill is to ensure that climate and clean energy
funds raised by the state are not diverted or transferred for uses that
are inconsistent with their intended purpose.

 
SUMMARY OF PROVISIONS:

The public authorities law is amended to add a new section 1874 provid-
ing that funds received by the Regional Greenhouse Gas Initiative (RGGI)
shall be deposited in the energy efficiency and clean energy technology
account; further, the proceeds shall not be moved, transferred or other-
wise allocated to the credit of the general fund.

The proceeds from the auction or sale of carbon dioxide emission allow-
ances shall be used strictly for purposes set forth in 21 NYCRR Part
507.4 and if ever redirected to the general fund their use shall be
detailed in a report by the State Comptroller.

** The amendment to this bill changes the effective date.

 
JUSTIFICATION:

Since 2015 over $200 million in RGGI proceeds have been transferred away
from the clean energy technology account and into the general fund
during the state budget process and used for other programs that are
inconsistent with their intended use. The Department of Environmental
Conservation regulates the RGGI program; NYSERDA administers the fund
where CO2 emission allowance proceeds are deposited. NYSERDA is charged
with using those funds to maximize reductions in greenhouse gases and
co-pollutants in disadvantaged communities. Furthermore, the targets set
by the state's new climate law, the CLCPA, make it even more critical
that clean energy funds be used for their intended purpose. The very
goals set forth in our state's nation-leading climate law are being
undermined by the pattern of redirecting or `sweeping' of RGGI proceeds
into the general fund, necessitating this legislation to codify their
intended use - supporting disadvantaged communities in the transition
away from fossil fuels.

 
FISCAL IMPLICATIONS:

Neutral to the state. The legislation only affirms that deposit of annu-
al proceeds from the auction or sale of CO2 emission credits be made
into the appropriate account and used for their intended purpose.

 
EFFECTIVE DATE:
March 31, 2023

2021-S6268B (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                  6268--B
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                              April 20, 2021
                                ___________
 
 Introduced  by  Sens.  MAY, BIAGGI, HARCKHAM, HINCHEY, HOYLMAN, KRUEGER,
   MYRIE, REICHLIN-MELNICK, SEPULVEDA -- read twice and ordered  printed,
   and  when printed to be committed to the Committee on Energy and Tele-
   communications -- reported favorably from said committee and committed
   to the Committee on Finance --  committee  discharged,  bill  amended,
   ordered  reprinted  as  amended  and  recommitted to said committee --
   recommitted to the  Committee  on  Energy  and  Telecommunications  in
   accordance  with Senate Rule 6, sec. 8 -- reported favorably from said
   committee and committed to  the  Committee  on  Finance  --  committee
   discharged, bill amended, ordered reprinted as amended and recommitted
   to said committee
 
 AN ACT to amend the public authorities law, in relation to proceeds from
   the auction or sale of carbon dioxide emission allowances
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The public authorities law  is  amended  by  adding  a  new
 section 1874 to read as follows:
   §  1874. CARBON DIOXIDE EMISSION ALLOWANCES. NOTWITHSTANDING ANY OTHER
 LAW, RULE, OR REGULATION TO THE  CONTRARY,  PROCEEDS  COLLECTED  BY  THE
 AUTHORITY FROM THE AUCTION OR SALE OF CARBON DIOXIDE EMISSION ALLOWANCES
 ALLOCATED  BY  THE  DEPARTMENT OF ENVIRONMENTAL CONSERVATION PURSUANT TO
 THE REGIONAL GREENHOUSE GAS INITIATIVE (RGGI), IMPLEMENTED IN  NEW  YORK
 STATE  PURSUANT TO 21 NYCRR PART 507, SHALL BE DEPOSITED INTO THE ENERGY
 EFFICIENCY AND CLEAN ENERGY TECHNOLOGY ACCOUNT ESTABLISHED  PURSUANT  TO
 21  NYCRR  PART 507.4. SUCH PROCEEDS SHALL NOT BE MOVED, TRANSFERRED, OR
 OTHERWISE ALLOCATED TO THE STATE TREASURY TO THE  CREDIT  OF  THE  STATE
 GENERAL FUND; PROVIDED, HOWEVER, THAT IF SUCH PROCEEDS ARE MOVED, TRANS-
 FERRED,  OR  OTHERWISE  ALLOCATED TO THE STATE TREASURY TO THE CREDIT OF
 THE STATE GENERAL FUND: (A) SUCH PROCEEDS SHALL BE USED FOR THE PURPOSES
 DIRECTED UNDER 21 NYCRR PART 507.4; AND (B) THE STATE COMPTROLLER  SHALL
 SUBMIT A REPORT TO THE TEMPORARY PRESIDENT OF THE SENATE, THE SPEAKER OF
 THE  ASSEMBLY, AND THE GOVERNOR CONTAINING A DETAILED DESCRIPTION OF THE
 USE OF SUCH PROCEEDS.
   § 2. This act shall take effect on March 31, 2023.

  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD10938-05-1

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Senate Bill S6268B

Sponsored By

Archive: Last Bill Status - In Senate Committee Finance Committee

May 10, 2022 - Finance Committee Vote

Finance Committee Vote: May 10, 2022

Jan 31, 2022 - Energy And Telecommunications Committee Vote

Energy And Telecommunications Committee Vote: Jan 31, 2022

May 10, 2021 - Energy And Telecommunications Committee Vote

Energy And Telecommunications Committee Vote: May 10, 2021

Bill Amendments

co-Sponsors

2021-S6268 - Details

2021-S6268 - Summary

2021-S6268 - Sponsor Memo

2021-S6268 - Bill Text download pdf

co-Sponsors

2021-S6268A - Details

2021-S6268A - Summary

2021-S6268A - Sponsor Memo

2021-S6268A - Bill Text download pdf

co-Sponsors

2021-S6268B (ACTIVE) - Details

2021-S6268B (ACTIVE) - Summary

2021-S6268B (ACTIVE) - Sponsor Memo

2021-S6268B (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S6268B

Share this bill

Sponsored By

Archive: Last Bill Status - In Senate Committee Finance Committee

Bill Amendments

co-Sponsors

2021-S6268 - Details

2021-S6268 - Summary

2021-S6268 - Sponsor Memo

2021-S6268 - Bill Text download pdf

co-Sponsors

2021-S6268A - Details

2021-S6268A - Summary

2021-S6268A - Sponsor Memo

2021-S6268A - Bill Text download pdf

co-Sponsors

2021-S6268B (ACTIVE) - Details

2021-S6268B (ACTIVE) - Summary

2021-S6268B (ACTIVE) - Sponsor Memo

2021-S6268B (ACTIVE) - Bill Text download pdf

Comments