Electric generation transition aid; criteria for an eligible taxing jurisdiction to qualify for aid modified, and calculation of aid modified.

Summary

The bill revises the definition of eligible taxing jurisdictions, requires utilities to notify the commissioner of retirements or fuel‑source conversions, and updates the formula used to calculate transition aid. It also adds a phased‑down schedule and a rule that can eliminate aid if a jurisdiction’s tax capacity grows beyond a set threshold. The changes apply to aid payable beginning in 2027, with some provisions retroactive to 2024.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share