Bill Text: MO HB1751 | 2012 | Regular Session | Introduced

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Bill Title: Requires the Department of Natural Resources to annually assess an electric utility in an amount not to exceed .005 of 1% of its annual intrastate operating revenues to encourage biomass energy projects

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2012-02-28 - Public Hearing Completed (H) [HB1751 Detail]

Download: Missouri-2012-HB1751-Introduced.html

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SECOND REGULAR SESSION

HOUSE BILL NO. 1751

96TH GENERAL ASSEMBLY

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INTRODUCED BY REPRESENTATIVES POLLOCK (Sponsor), WELLS AND DUGGER (Co-sponsors).

5778L.01I                                                                                                                                                  D. ADAM CRUMBLISS, Chief Clerk

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AN ACT

To amend chapter 393, RSMo, by adding thereto one new section relating to assessment of electric utilities.

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Be it enacted by the General Assembly of the state of Missouri, as follows:

            Section A. Chapter 393, RSMo, is amended by adding thereto one new section, to be known as section 393.1039, to read as follows:

            393.1039. The department shall annually assess electric utilities in an amount not to exceed five thousand of one percent of its annual intrastate revenues starting in 2013. Such assessments shall be placed in a special fund, which is hereby created, to be known as the "Agricultural Energy Fund", which shall be devoted solely to the payment of expenditures actually incurred by the department in encouraging and developing biomass energy projects in the state. The state treasurer shall be custodian of the fund. In accordance with sections 30.170 and 30.180, the state treasurer may approve disbursements. The fund shall be a dedicated fund and, upon appropriation, money in the fund shall be used solely for the administration of this section. Notwithstanding the provisions of section 33.080 to the contrary, any moneys remaining in the fund at the end of the biennium shall not revert to the credit of the general revenue fund but shall be applicable to the payment of such expenditures of the department on the succeeding fiscal year and applied by the department to the reduction of the amount to be assessed to such electric utilities in such succeeding fiscal year. The state treasurer shall invest moneys in the fund in the same manner as other funds are invested. Any interest and moneys earned on such investments shall be credited to the fund.

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