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Budget Recommendations
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Outside Section 57
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Energy Related Allowances and Credits
SECTION 57.
Chapter 25A of the General Laws, as so appearing, is hereby amended by inserting at the end thereof the following new section:-
Section 13. (a) Notwithstanding the provisions of any general or special law to the contrary, the division may apply for, receive, retain, redeem, sell or transfer any energy conservation credits, renewable energy certificates or credits, emissions credits, or energy reduction allowances earned or received by the commonwealth including but not limited to allowances awarded through the public benefit set-aside provisions of the NOx Allowance Trading Program implemented by the department of environmental protection.
(b) There shall be established upon the books of the commonwealth a separate fund to be known as the Division of Energy Resources Credit Trust Fund. There shall be credited to said fund all amounts received through the redemption or sale of such certificates, credits and allowances specified in this section and any income derived from the investment of amounts credited to the fund. All amounts credited to the fund shall be held in trust and shall be available for expenditure, without further appropriation, by the division of energy resources for activities of the division related to the development, oversight and implementation of programs for energy reliability, renewable energy, public procurement of energy and energy efficiency, and climate change. Any unexpended balance in the fund at the close of a fiscal year shall remain in the fund and shall be available for expenditure in the following fiscal year.
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