Signed by Governor Martin O'Malley

Vote Smart's Synopsis:

Vote to pass a bill that eliminates the Maryland Renewable Energy Fund and replaces it with the Maryland Strategic Energy Investment Program and Maryland Strategic Energy Investment Fund for the purpose of redirecting the funds derived from the Regional Greenhouse Gas Initiative and other sources to promote energy efficiency, clean and renewable resources, conservation programs, and rate reductions.

Highlights:

- Establishes the following sources of funding for the Maryland Strategic Energy Investment Fund [sec. 1 (9-20B-05) (E)]:

- Proceeds from the Regional Greenhouse Gas Initiative; - Appropriations from the state budget; - Repayments and prepayments of principal and interest on loans made from the Fund; - Interest and investment earnings on the Fund; - Compliance fees; and - Money received from any public or private source for the benefit of the Fund.

- Apportions the revenues derived from the Fund for each year as follows [sec. 1 (9-20B-05) (G)]:

- 46 percent for energy efficiency and conservation programs; - 23 percent to provide for rate reductions by offsetting electricity rates of residential customers; - 17 percent to the Electric Universal Service Program and other electricity assistance programs; - 10.5 percent for renewable and clean energy, climate change, and energy-related public education and outreach programs; and - 3.5 percent, but not more than $400,000, for administrative costs.

- Establishes the Strategic Energy Investment Advisory Board to review the program and the proposed uses of the monies from the fund, and make recommendations to the Administration. The board is composed of the following 15 voting and nonvoting members [sec. 1 (9-20B-07) (A-C)]:

- One voting member of the Senate appointed by the President of the Senate; - One voting member of the House appointed by the Speaker of the House; - Nine voting members appointed by the governor, including two representatives of residential customers, one representative from a commercial customer, large electricity user, electric company, electric cooperative, electric supplier and environmental organization; and - Four nonvoting members: Chairman of the Public Service Commission; the People's council; Secretary of the Environment; and a regulated lobbyist.

- Prohibits individuals from knowingly providing false information to the Maryland Energy Administration to obtain a grant, loan, or other form of financial interest through the Maryland Strategic Energy Investment Program, and classifies a violation of this provision as a misdemeanor that is punishable by a $50,000 fine and/or one year imprisonment [sec. 1 (9-20B-11) (C)]. - Increases the cap on the Maryland Clean Air Fund from $750,000 to $2 million [sec. 1 (2-107) (c)].

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that eliminates the Maryland Renewable Energy Fund and replaces it with the Maryland Strategic Energy Investment Program and Maryland Strategic Energy Investment Fund for the purpose of redirecting the funds derived from the Regional Greenhouse Gas Initiative and other sources to promote energy efficiency, clean and renewable resources, conservation programs, and rate reductions.

Highlights:

- Establishes the following sources of funding for the Maryland Strategic Energy Investment Fund [sec. 1 (9-20B-05) (E)]:

- Proceeds from the Regional Greenhouse Gas Initiative; - Appropriations from the state budget; - Repayments and prepayments of principal and interest on loans made from the Fund; - Interest and investment earnings on the Fund; - Compliance fees; and - Money received from any public or private source for the benefit of the Fund.

- Apportions the revenues derived from the Fund for each year as follows [sec. 1 (9-20B-05) (G)]:

- 46 percent for energy efficiency and conservation programs; - 23 percent to provide for rate reductions by offsetting electricity rates of residential customers; - 17 percent to the Electric Universal Service Program and other electricity assistance programs; - 10.5 percent for renewable and clean energy, climate change, and energy-related public education and outreach programs; and - 3.5 percent, but not more than $400,000, for administrative costs.

- Establishes the Strategic Energy Investment Advisory Board to review the program and the proposed uses of the monies from the fund, and make recommendations to the Administration. The board is composed of the following 15 voting and nonvoting members [sec. 1 (9-20B-07) (A-C)]:

- One voting member of the Senate appointed by the President of the Senate; - One voting member of the House appointed by the Speaker of the House; - Nine voting members appointed by the governor, including two representatives of residential customers, one representative from a commercial customer, large electricity user, electric company, electric cooperative, electric supplier and environmental organization; and - Four nonvoting members: Chairman of the Public Service Commission; the People's council; Secretary of the Environment; and a regulated lobbyist.

- Prohibits individuals from knowingly providing false information to the Maryland Energy Administration to obtain a grant, loan, or other form of financial interest through the Maryland Strategic Energy Investment Program, and classifies a violation of this provision as a misdemeanor that is punishable by a $50,000 fine and/or one year imprisonment [sec. 1 (9-20B-11) (C)]. - Increases the cap on the Maryland Clean Air Fund from $750,000 to $2 million [sec. 1 (2-107) (c)].

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that eliminates the Maryland Renewable Energy Fund and replaces it with the Maryland Strategic Energy Investment Program and Maryland Strategic Energy Investment Fund for the purpose of redirecting the funds derived from the Regional Greenhouse Gas Initiative to promote energy efficiency, clean and renewable resources, conservation programs, and rate relief.

Highlights:

- Apportions the revenue derived from the Regional Greenhouse Gas Initiative for fiscal years 2009 through 2011 as follows [sec. 1 (9-20B-05) (G)]:

- 46 percent for energy efficiency and conservation programs; - 23 percent to provide for rate relief by offsetting electricity rates of residential customers; - 17 percent to the Electric Universal Service Program Fund; - 10.5 percent for renewable and clean energy, climate change, and energy-related public education and outreach programs; and - 3.5 percent, but not more than $500,000, for administrative costs.

- Redirects the sources of funding that supported the Maryland Renewable Energy Fund to the Maryland Strategic Energy Investment Fund, including compliance fees administered by the Public Utilities Commission, repayments and payments of loans, interest and investment earnings of the fund, and other funds received from any public or private source to benefit the fund [sec. 1 (9-20B-05) (E)]. - Establishes the Strategic Energy Investment Advisory Board to review the program, the proposed uses of the monies from the fund, and make recommendations to the Administration. The Advisory is composed of 13 voting and nonvoting members [sec. 1 (9-20B-07) (A-C)]:

- One voting member of the Senate appointed by the President of the Senate; - One voting member of the House appointed by the Speaker of the House; - Seven voting members representing residential, commercial, electricity, and environmental and conservation interests that are appointed by the Governor; and - Four nonvoting members: (1) Chairman of the Public Service Commission or the designee thereof; (2) the People's council or the designee thereof; (3) Secretary of the Environment or the designee thereof; and (4) Director of the Program's Administration or the designee thereof.

- Prohibits individuals from knowingly providing false information to the Maryland Energy Administration to obtain a grant, loan, or other form of financial interest through the Maryland Strategic Energy Investment Program, and classifies a violation of this provision as a misdemeanor that is punishable by a $50,000 fine and/or one year imprisonment [sec. 1 (9-20B-11) (C)]. - Increases the cap on the Maryland Clean Air Fund from $750,000 to $2 million [sec. 1 (2-107) (c)].

Full Bill Text