SB 196 Summary

• Reduces the appropriation percentage from seven percent to five percent of the power cost equalization endowment fund's three-year average monthly market value that may be used annually.

• Changes the appropriation calculation to use only the three-year average market value rather than the previous fiscal year's earnings for determining available funds.

• Adds provisions allowing the legislature to appropriate 70 percent of excess earnings when the fund's previous year earnings exceed the current year appropriation.

• Directs excess earnings allocations to community revenue sharing/assistance funds (up to $30,000,000) and up to $25,000,000 to renewable energy grants, bulk fuel loans, or rural power system upgrades if excess earnings total $30,000,000 or more.

• Takes effect June 30, 2016.