Budget Amendment ID: FY2023-S4-120

ENV 120

Deep Energy Retrofit Fund

Messrs. Barrett, Moore, Hinds and Cronin, Ms. Moran, Ms. Rausch, Ms. Lovely and Mr. Timilty moved that the proposed new text be amended by inserting after Section XX the following section: - 

“SECTION XX. Chapter 23J of the General Laws is hereby amended by adding the following section: -

‘Section 15. (a) There shall be established and set up on the books of the commonwealth a separate fund known as the Deep Energy Retrofit Fund to be administered by the center.

(b) The center shall make expenditures from the fund for the purpose of providing grants to fund deep energy retrofits.

(c) The fund's activity shall be included in the annual report required by section 5. The center shall also annually file, no later than October 1 and at least 30 days prior to the expenditure of any funds, a plan detailing the planned uses of funds in the upcoming calendar year with the joint committee on telecommunications, utilities and energy and the house and senate committees on ways and means; provided, however, that in the development of this plan, the center shall hold at least 1 public hearing to solicit stakeholder feedback.

(d) On the effective date of this act, the comptroller shall transfer no less than $45,000,000 from the General Fund to the Deep Energy Retrofit Fund established in this section for the purpose of carrying out this act. Any money remaining in the fund at the end of a fiscal year shall not revert to the General Fund.’”