Legislative record

AN ACT TO AMEND TITLE 7 OF THE DELAWARE CODE RELATING TO REGIONAL GREENHOUSE GAS INITIATIVE AND CO2 EMISSIONS TRADING PROGRAM AUCTION PROCEEDS.

Subchapter 11-A of Title 7 delineates the Regional Green House Gas initiative, including where proceeds from C02 allowance auctions shall be expended. This Act fixes the overall amount of proceeds directed to purposes currently in the Delaware Code to 2025 levels and instructs DNREC that any auction proceeds above 2025 levels be directed to a rebate program to defray the cost of electricity to ratepayers. Under this Act, DNREC would provide rebate proceeds to the appropriate electric utility or distribution company for payment in the form of electric bill reductions to retail electric customers.