Prohibits proceeds from carbon dioxide emission allowances under RGGI from being transferred into the state general fund.
This bill amends the public authorities law to ensure that proceeds from the auction or sale of carbon dioxide emission allowances under New York's participation in the regional greenhouse gas initiative (RGGI) are deposited into the energy efficiency and clean energy technology account. It prohibits these proceeds from being transferred into the state general fund. If such proceeds are moved to the state general fund, they must be used for the purposes directed by the RGGI.
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