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LD 1398, An Act To Reduce Electric Rates for Maine Businesses, is a bill submitted by Gov. LePage that was carried over from the first session of the 127th Legislature. It proposes to take some of the money from the Regional Greenhouse Gas Initiative Trust Fund now going into the Efficiency Maine Trust and instead use the funds to reduce electricity rates for businesses. Currently 15% of the funds are returned to business ratepayers; the governor's bill increases it to 55%. It changes the allocation for efficiency programs from 50% to 10% and maintains the 35% funding for programs to reduce home-heating demand. Maine's RGGI revenue is expected to be $14.4 million in fiscal year 2016 and $16.6 million in fiscal year 2017.
Do you support the governor's proposed changes in how Maine's RGGI funds are allocated?