This bill introduces the Renewable Ready Program under a new chapter in Title 42 of the General Laws, aimed at encouraging the development of renewable energy projects on previously contaminated sites. It defines key terms related to the program and sets up the Renewable Ready Fund within the infrastructure bank to provide financial assistance for such projects. The bill outlines the criteria for site eligibility and mandates the creation of a list of suitable locations, which includes estimates of renewable energy production capacity and potential interconnection costs. The infrastructure bank is tasked with seeking federal resources for the fund, which will be composed of various sources of funding, including state appropriations, federal programs, private contributions, and other available monies.

The infrastructure bank will manage the application process for the fund, with the authority to request revisions or deny incomplete applications. Priority for funding will be based on a list prepared by the office, and the availability of funds will determine the approval of applications. The bill specifies that the funds are to be used for activities related to connecting renewable energy projects to the electric distribution system, excluding costs for interconnection studies or preliminary work. Criteria for fund distribution include listing on the eligible sites list, application approval, completion of an impact study, certification of available funds, and necessary approvals from the public utilities commission. The bill also encourages leasing of remediated properties by utility companies, with lease payments going to the environmental response fund, and grants the infrastructure bank the authority to adopt rules for the program. The act becomes effective upon passage.