Section 1. Section 139 of Chapter 164 of the General Laws, as appearing in the 2022 Official Edition, is hereby amended by inserting after the words “applicable rate” the following:-

“(3) A distribution company shall provide payment to a customer for a credit under Section 139(a)(1) of this Chapter provided that such credit has been carried forward for six months or more. For the purpose of determining the age of a credit, a distribution company shall apply any applicable costs against the most recent credit issued by the distribution company. A distribution company customer eligible for payment under this section may opt to defer payment.

(4) A distribution company shall provide payment to a customer for any outstanding credit under Section 139(a)(1) of this Chapter within 30 days of the customer closing the account with the distribution company.

(5) Payments received by a distribution company customer pursuant to Section 139(a)(3) and Section 139(a)(4) of this Chapter shall not be considered to be a credit, rebate, environmental attribute, renewable energy credit, or other payment or offset that may be construed to be attributable to a renewable energy system.

Section 2. The department shall promulgate regulations pursuant to this subsection including, but not limited to, a schedule for payments at least once annually; method of payment including the option for a distribution company customer to receive an electronic transfer of funds; notice to a distribution company customer of payment eligibility; and process for deferral of payments.”