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GA HB1196
Bill
Status
Introduced
2/8/2024
Primary Sponsor
Becky Evans
Click for details
AI Summary
- Creates a "Georgians First Fund" for each commission-regulated electric utility, funded from excess revenues above the utility's authorized target return on equity — 5% of above-target revenue within the authorized earnings band and 10% of revenue exceeding the top of the band
- Fund proceeds must be used exclusively for programs that achieve long-term electric bill reductions for low-income customers, including bill assistance, energy efficiency, weatherization, demand-side management, customer-sited solar, and community solar
- Priority must be given to programs serving customers in "high energy burden ZIP Codes," defined as areas where consumers pay more than 6% of their income toward electricity bills
- Administrative costs are capped at 5% of total allocated funds, and no more than 70% of annual contributions may be distributed in any given year
- Requires the Georgia Public Service Commission to adopt rules and regulations governing the fund by December 31, 2024
Legislative Description
Public utilities; certain utilities to allocate a portion of their revenue to a Georgians First Fund; provisions
Last Action
House Second Readers
2/12/2024
Committee Referrals
Energy, Utilities and Telecommunications2/9/2024
Full Bill Text
No bill text available