AN ACT AUTHORIZING THE TOWN OF KINGSTON TO ESTABLISH A SPECIAL FUND TO PROCESS ACTIVITY PRODUCED BY NON-TOWN NET METERING.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
SECTION 1. (a) There shall be established in the town of Kingston a special fund, to which the provisions of section 53E 1/2 of chapter 44 of the General Laws shall apply, except as provided in this section, for the receipt of all funds received by the town in connection with the operation of any renewable energy facility that is owned and operated by a third party, including, but not limited to the funds received for the: (i) sale of actual energy produced; and (ii) sale of energy credits received; provided, however, that this section shall not apply to funds received by the town as property tax payments or payments in lieu of taxes made pursuant to subsection (b) of section 38H of chapter 59 of the General Laws.
Funds deposited in the fund may be expended by the board of selectmen to satisfy obligations under any third-party power purchase agreements. Following payments of all amounts due under third party power purchase agreements established pursuant to the general authorizations of this act, remaining funds shall be deposited into the general fund for any municipal purpose.
(b) There shall be no annual expenditure limit for this fund and the town's general bylaws need not be amended to reference this fund.
(c) The administrator of the fund shall annually provide a report to the town, which shall include, but not be limited to, (i) the amount of donations and appropriations received; (ii) the amount of grants and loans made and (iii) to whom and the balance of the fund.
SECTION 2. This act shall take effect upon its passage.
Approved, January 13, 2021.