This bill establishes a limitation on the recovery of costs for wind and solar electric generation facilities constructed after July 1, 2024. Specifically, it stipulates that electric public utilities will not be allowed to include any recovery of or earnings on the capital costs associated with these facilities in the rates they charge. This provision is set to be repealed on July 1, 2025, effectively creating a temporary measure regarding the financial treatment of new renewable energy projects.

Additionally, the bill specifies that it will take effect on July 1, 2024, aligning the implementation of these cost recovery limitations with the date after which the restrictions apply to new wind and solar facilities. This legislative action reflects a targeted approach to managing the financial implications of renewable energy investments within the state's public utility framework.