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2022 Session

Budget Amendments - HB30 (Member Request)

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Chief Patron: Subramanyam
Study Economic Impact of Electricity Generating Facility Retirements

Item 121 #7h

Item 121 #7h

First Year - FY2023 Second Year - FY2024
Commerce and Trade
Department of Mines, Minerals and Energy FY2023 $150,000 FY2024 $0 GF

Language
Page 104, line 48, strike "$34,315,826" and insert "$34,465,826".

Page 105, after line 32, insert:

"F. Out of this appropriation, $150,000 the first year from the general fund for the Department to commission a study regarding the forecasted economic impacts of the retirement each electricity generating unit in the Commonwealth that (i) emits carbon dioxide as a by-product of combusting fuel to generate electricity, and (ii) serves an electricity generator with a nameplate capacity equal to or greater than 25 megawatts that supplies 10 percent or more of its annual net electrical generation to the electric grid or more than 15 percent of its annual total useful energy to any entity other than the manufacturing facility to which the generating source is interconnected. The study must include the impact on direct and indirect jobs, local government tax revenue, and local economic activity, as well as state and federal programs, policies, and funding available to assist workers and communities that will be adversely affected by the loss of jobs and revenues due to the transitioning energy economy. The report shall be published by January 1, 2023, and submitted to the Chairs of the House Committee on Labor and Commerce and the Senate Committee on Commerce and Labor and to the Council on Environmental Justice."



Explanation

(This amendment provides $150,000 from the general fund in fiscal year 2023 for the Department of Energy to commission a study of the economic impacts of specified categories of electricity generating facilities in the Commonwealth.)