Price Carbon Pollution in Maine

Last updated: Jan 26, 2019

Details about this bill
Category: Taxation
Status: In Committee
Sponsor: Representative Deane Rykerson, House 151
Session: 129
Bill #: LD 434

Position:

Monitoring.

Summary:

This bill requires an assessment on the carbon content of fuels sold by a distributor in the State. The bill defines "distributor" and requires a distributor to submit on a monthly basis the required assessment to the Public Utilities Commission. The commission is required to transfer any assessment it receives to the Carbon Content Assessment Fund, which the bill establishes. The bill requires the commission at the end of each fiscal year to transfer funds from the fund to transmission and distribution utilities in the State. The funds are to be used to reduce the rates of those utilities' customers in a manner that is equitable and that provides maximum benefit to the economy of the State. The bill gives the commission the authority to review the books and records of a distributor and to impose an administrative penalty if necessary. It requires the commission to adopt routine technical rules.