2023 New York Laws › STF - State Finance › Article 6 - Funds of the State › 99-QQ*2 - New York Climate Action Fund.

* §   99-qq.  New  York  climate  action  fund.  1.  There  is  hereby
established in the joint custody of the  commissioner  of  taxation  and
finance and the state comptroller a special fund to be known as the "New
York climate action fund".
2. The comptroller shall establish the following separate and distinct
accounts within the New York climate action fund:
(a) consumer climate action account;
(b) industrial small business climate action account; and
(c) climate investment account.
3.  (a)  The  New  York  climate  action  fund consumer climate action
account shall consist of  moneys  received  by  the  state  pursuant  to
paragraph  (a)  of  subdivision  twenty-five of section eighteen hundred
fifty-four  of  the  public  authorities  law,  and  all  other   moneys
appropriated,  credited,  or  transferred thereto from any other fund or
source pursuant to law.  Moneys of the account shall be expended for the
purposes of providing benefits to help reduce potential increased  costs
of various goods and services to consumers in the state.
(b) The New York climate action fund industrial small business climate
action account shall consist of moneys received by the state pursuant to
paragraph  (b)  of  subdivision  twenty-five of section eighteen hundred
fifty-four  of  the  public  authorities  law,  and  all  other   moneys
appropriated,  credited,  or  transferred thereto from any other fund or
source pursuant to law. Moneys of the account shall be expended for  the
purposes  of providing benefits to help reduce potential increased costs
of  various  goods  and  services   to   industrial   small   businesses
incorporated,  formed  or  organized, and doing business in the state of
New York.
(c) The New York climate action fund climate investment account  shall
consist  of  moneys  received  by the state pursuant to paragraph (c) of
subdivision twenty-five of section eighteen hundred  fifty-four  of  the
public  authorities law, and all other moneys appropriated, credited, or
transferred thereto from any other  fund  or  source  pursuant  to  law.
Moneys  of  the  account  shall  be  made  available for the purposes of
assisting the state in transitioning to a less carbon intensive economy,
including but not limited to: (i) purposes which are consistent with the
general findings of  the  scoping  plan  prepared  pursuant  to  section
75-0103  of  the environmental conservation law; (ii) administrative and
implementation costs, auction design and support costs, program  design,
evaluation,  and  other  associated  costs;  and  (iii)  measures  which
prioritize disadvantaged communities by  supporting  actions  consistent
with  the  requirements  of  paragraph d of subdivision three of section
75-0109 and of section 75-0117 of the  environmental  conservation  law,
identified  through  community  decision-making  and  stakeholder input,
including  early  action  to  reduce   greenhouse   gas   emissions   in
disadvantaged communities.
4.  Moneys  in the New York climate action fund shall be kept separate
from and shall not be commingled with any other moneys in the custody of
the comptroller or the commissioner of taxation and  finance.  Provided,
however, that any moneys of the fund not required for immediate use may,
at  the discretion of the comptroller, in consultation with the director
of the division of budget, be invested by the comptroller in obligations
of the United States or the state. The proceeds of any  such  investment
shall  be  retained by the fund as assets to be used for purposes of the
fund.
* NB There are 2 § 99-qq's