LD 1657 LR 2736(03)
An Act To Update the Allowance Budget for the Regional Greenhouse Gas Initiative
Fiscal Note for Bill as Engrossed with:
C "A" (H-575)
Committee: Environment and Natural Resources
Fiscal Note
Potential future biennium revenue decrease - Other Special Revenue Funds
Minor cost increase - Other Special Revenue Funds
Fiscal Detail and Notes
This bill establishes the regional greenhouse gas allowances the State can auction each year from 2021 to 2030. It also reduces certain "banked allowances" available from 2021 to 2025. These changes could reduce the amount of Other Special Revenue Funds revenue the Efficiency Maine Trust receives. As this revenue is dependant on future auctions, no estimate of the potential revenue loss is available at this time.
Any additional costs to the Efficiency Maine Trust to administer these changes are anticipated to be minor and can be absorbed within existing budgeted resources.