Rhode Island General Laws Title 23. Health and Safety § 23-82-6. Use of auction or sale proceeds

(1) Promotion of cost-effective energy efficiency and conservation in order to achieve the purposes of § 39-1-27.7;

(2) Promotion of cost-effective renewable non-carbon emitting energy technologies in Rhode Island as defined in § 39-26-5 and to achieve the purposes of chapter 26 of title 39 entitled “Renewable Energy Standard”;

(3) Cost-effective direct rate relief for consumers;

(4) Direct rate relief for low-income consumers;

(5) Reasonable compensation to an entity selected to administer the auction or sale;

(6) Reasonable costs of the department of environmental management and office of energy resources in administering this program, as well as other climate change, energy efficiency, and renewable program efforts of the department of environmental management and office of energy resources, which shall not in any year exceed three hundred thousand dollars ($300,000) or ten percent (10%) of the proceeds from sale or auction of the allowances, whichever is greater. Administrative funds not expended in any fiscal year shall remain in the administrative account to be used as needed in subsequent years. The office of energy resources shall have the ability to apply administrative funds not used in a fiscal year to achieve the purpose of this section. The funds deposited into the administrative funds account shall be exempt from the indirect cost recovery provisions of § 35-4-27;

(7) For fiscal year 2023 only, the office of energy resources shall transfer three million dollars ($3,000,000) from unallocated auction proceeds to the executive climate change coordinating council restricted receipt account to maintain funding for the existing electric vehicle and electric bicycle incentive programs and to support other projects; and

(8) Provided however, effective for fiscal year 2024 and thereafter, sale of allowances yielding in excess of four million five hundred thousand dollars ($4,500,000) per auction shall be transferred to the Rhode Island office of energy resources, on behalf of the executive climate change coordinating council, for climate change related initiatives. The executive climate change coordinating council shall have exclusive authority to direct the use of these funds pursuant to § 42-6.2-3.1. The office of energy resources may act on behalf of the executive climate change coordinating council to disburse these funds. Provided further, that any transfer of allowances in a single fiscal year, pursuant to this section shall not exceed one million five hundred thousand dollars ($1,500,000).