Bill > A08876

This bill amends the State Finance Law to allow any surplus or uncommitted funds in the New York State Climate Investment Account to be returned to ratepayers, meaning the individuals and businesses who pay for utility services. The Climate Investment Account, established to help New York transition to a less carbon-intensive economy, typically funds initiatives related to climate action, administrative costs, and measures benefiting disadvantaged communities. However, this bill specifies that any money collected by utilities on a "bill-as-you-go" basis under the Clean Energy Fund framework, which hasn't been transferred to the account or the New York State Energy Research and Development Authority (NYSERDA), should be credited back to ratepayer accounts. This provision applies retroactively to the 2025 fiscal year and for all subsequent fiscal years.

Agriculture and Natural Resources

https://www.nysenate.gov/legislation/bills/2025/A8876