Bill > A3369

This bill establishes the Clean Energy Technology Center and the Alternative and Clean Energy Investment Trust Fund to create clean energy-related employment opportunities, with revenues from a societal benefits charge allocated to support its activities. The Clean Energy Technology Center, a public instrumentality placed within the Board of Public Utilities, will serve as the state's lead agency for promoting clean energy jobs, supporting research and workforce training at educational institutions, stimulating new clean energy ventures, and assisting existing companies. The Alternative and Clean Energy Investment Trust Fund, a special nonlapsing fund managed by the Center, will be financed by societal benefits charge revenues from electric and gas utilities, as well as other sources, and will be used to make "qualified investments" that stimulate clean energy research and development, support curriculum development at higher education institutions, promote manufacturing of clean energy technologies, provide bridge financing for grants, and foster economic self-sufficiency in low-income communities. The bill also amends existing law to explicitly allocate 100 percent of the costs for the operation of the Clean Energy Technology Center and the Alternative and Clean Energy Investment Trust Fund to be funded by the societal benefits charge.