HB 1050

Abstract

Amends the State Finance Act. Creates the Conservation Initiatives Fund. Provides that at the beginning of each fiscal quarter, the State Treasurer must transfer the sum of $6,250,000 from the General Revenue Fund to the Conservation Initiatives Fund. Provides that at the beginning of each fiscal quarter, the State Treasurer shall transfer 40% of the moneys in the Fund, but in no case less than $2,500,000, to the Conservation 2000 Fund to be used, subject to appropriation, for the purposes of that Fund. Provides that, of the moneys remaining in the Fund after the transfer to the Conservation 2000 Fund, 67% shall be available to the Department of Natural Resources to be used, subject to appropriation, only for the nonfederal cost share of Conservation Reserve Enhancement Programs and 33% shall be available to the Department of Natural Resources to be used, subject to appropriation, only for personal services and related items necessary to retain conservation personnel. Amends the Electricity Excise Tax Law and the Public Utilities Act. Ends, after June 30, 2005, the electricity excise tax credit for a electric utility's purchase electricity from any qualified solid waste energy facility. Provides that electric utilities are not required to purchase electricity from any qualified solid waste energy facilities after June 30, 2005. Effective immediately.