This is not the official budget document.

Budget Summary FY2016

Outside Section 165
Data Current as of:  8/19/2015




Previous Outside Section Next Outside Section

 

Somerset RGGI Payment - Trust Fund

SECTION 165.   Notwithstanding any general or special law to the contrary, the department of energy resources shall expend an amount not to exceed $3,000,000 in fiscal year 2016 from the RGGI Auction Trust Fund established in section 35II of chapter 10 of the General Laws for reimbursements to municipalities in which the property tax receipts from an electric generating station, including payments in lieu of taxes and other compensation specified in an agreement between a municipality and an affected property owner, are reduced due to a reduction in capacity factor, occurring after July 1, 2012 at a dual coal and oil-fired facility, of at least 50 per cent from the average capacity factor of the previous 10 years provided that such action also reduces the commonwealth's greenhouse gas emissions from the electric generator sector under the goals established pursuant to chapter 21N of the General Laws; provided, however, that the amount of such reimbursements shall be determined by calculating the difference between: (1) the amount of the tax receipts, including payments in lieu of taxes or other compensation, paid by the electric generating station in the current tax year; and (2) the amount of the tax receipts, including payments in lieu of taxes or other compensation, paid by the electric generating station in the tax year prior to the full or partial decommissioning or other change in operating status of the facility; provided further, that reimbursement shall not be made if, in a tax year, the aggregate amount paid to a municipality by the owner of an electric generating station including, but not limited to, payments in lieu of taxes and other compensation, exceeds the aggregate amount paid to that municipality by that owner in the year prior to the full or partial decommissioning or other change in operating status of the electric generating station; and provided further, that not later than December 31, 2015, a municipality in which the property tax receipts from an electric generating station are reduced due to a reduction in capacity factor shall submit a report to the joint committee on telecommunications, utilities and energy detailing the need for such reimbursements and the impact on the municipality of receiving or not receiving such reimbursements. Payments from the RGGI Auction Trust Fund shall be prioritized so that the first payments from the fund shall be made to municipalities under this section.