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127th MAINE LEGISLATURE |
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LD 1676 |
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LR 2794(03) |
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An Act To
Establish a Process for Procurement of Renewable Resources |
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Fiscal Note for
Bill as Amended by Committee Amendment " " |
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Committee: Energy, Utilities and Technology |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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FY 2015-16 |
FY 2016-17 |
Projections FY 2017-18 |
Projections FY 2018-19 |
| Net Cost
(Savings) |
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General Fund -
Maine Budget Stabilization Fund |
$0 |
$6,700,000 |
$6,700,000 |
$0 |
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| Appropriations/Allocations |
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Other Special Revenue Funds |
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$0 |
$6,800,974 |
$6,800,974 |
$100,974 |
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| Revenue |
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Other Special Revenue Funds |
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$0 |
$100,974 |
$100,974 |
$100,974 |
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| Transfers |
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General Fund -
Maine Budget Stabilization Fund |
$0 |
($6,700,000) |
($6,700,000) |
$0 |
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Other Special Revenue Funds |
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$0 |
$6,700,000 |
$6,700,000 |
$0 |
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| Fiscal Detail
and Notes |
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The bill requires
the Public Utilities Commission (PUC) to enter into one or more two-year
contracts for up to 80 megawatts of biomass resources, contingent upon
available funds for above market costs of the contract. This bill creates the
Cost Recovery Fund within the PUC and transfers $6,700,000 in both fiscal
year 2016-17 and fiscal year 2017-18 from the Maine Budget Stabilization Fund
to the Cost Recovery Fund to pay all above-market costs of the contracts. The
bill includes an Other Special Revenue Funds allocation in fiscal year
2016-17 of $6,700,000 to allow the PUC to pay all above-market costs of the
contracts and an Other Special Revenue Funds allocation of $100,974 for
consulting costs. The Maine Budget Stabilization Fund has sufficient resources
to make these transfers. The PUC will receive an annual $100,974 increase in
Other Special Revenue Funds revenue from increased assessments to fund the
consulting costs. |
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