This bill amends existing legislation regarding the allocation of funds from the Global Warming Solutions Fund, specifically requiring the Department of Environmental Protection (DEP), in consultation with the New Jersey Economic Development Authority (EDA) and the Board of Public Utilities (BPU), to prioritize consumer relief when distributing these funds. The bill authorizes the use of fund monies for programs aimed at reducing costs for electricity and natural gas consumers, and mandates that this cost reduction be prioritized above all other criteria in the selection process for grants and financial assistance.

Key changes include the allocation of 60% of the fund to the EDA for cost reduction programs, 20% to the BPU for similar initiatives focused on low- and moderate-income residential sectors, and 10% each to the DEP for programs promoting local government efforts and enhancing environmental stewardship. The bill also introduces a new evaluation criterion that emphasizes the ability of projects to reduce costs to consumers, alongside existing criteria related to greenhouse gas emissions and energy use reduction. Overall, the legislation aims to ensure that consumer relief is a central focus in the allocation of funds intended to combat climate change.

Statutes affected:
Introduced: 26:2C-51, 26:2C-52