Bill > H3574

This bill proposes to modify Section 22 of Chapter 21A of the General Laws by expanding the purposes for which cap and trade program funds can be used. Specifically, the bill adds a new provision allowing municipalities to be reimbursed for tax revenue lost when power plants within their boundaries are decommissioned. Cap and trade programs are environmental regulatory mechanisms that aim to reduce carbon dioxide emissions by setting a limit (cap) on total emissions and allowing companies to trade emission allowances. The bill complements existing provisions that already allow funds to be used for promoting energy efficiency, conservation, demand response, and covering administrative costs of the cap and trade program. By adding the reimbursement for lost tax revenue, the legislation seeks to provide financial support to cities and towns that may experience economic challenges when power plants are shut down, potentially helping to mitigate the local economic impact of the transition to cleaner energy sources.

Transportation and Infrastructure

https://malegislature.gov/Bills/194/H3574