The proposed bill amends Chapter 39-2 of the General Laws by introducing a new section, 39-2-1.5, which establishes a tiered percentage of income payment program for residential customers of electric and gas distribution companies with over 100,000 customers. This program is designed to assist households with incomes at or below 150% of the federal poverty level by ensuring that their utility costs do not exceed a fixed percentage of their income. The bill outlines specific provisions for the discount tiers, including a fixed monthly payment, forgiveness of pre-participation arrearages over 24 months, and a maximum annual benefit and minimum monthly payment to be determined by the public utilities commission.

Additionally, the bill mandates that the costs associated with the discount program, including administrative expenses not covered by other sources, be collected from all other customers of the utility companies in a manner deemed just and reasonable by the commission. The commission is tasked with reviewing the proposed payment plans, balancing discounts with administrative costs, and rendering a decision by January 15, 2027. The bill also stipulates that eligible customers will be enrolled in the appropriate tier upon verification of their income level and will be offered energy efficiency programs upon enrollment. The act will take effect upon passage.