Relates to proceeds from the auction or sale of carbon dioxide emission allowances

Latest action May 6, 2026

Prohibits proceeds from the auction or sale of carbon dioxide emission allowances pursuant to New York's participation in the regional greenhouse gas initiative (RGGI) from being transferred into the state general fund; provides that if such proceeds are transferred to the state general fund, they shall be used for the purposes directed by the RGGI.

Not chosen yet

Where it stands

Out of committee and scheduled for a vote by the full chamber.

Introduced
In committee
Up for a vote
Passed one chamber
Passed
Enacted

New York State Senate

Amends the Public Authorities Law.

Committee

Energy And Telecommunications · New York State Senate

Purpose, from the sponsor's memo

The purpose of this bill is to ensure that climate and clean energy funds raised by the state are not diverted or transferred for uses that are inconsistent with their intended purpose.

Filed with the bill. Read it on nysenate.gov (opens in a new tab)

Recorded votes

Vote: Committee vote · Energy And Telecommunications
Senate Energy And TelecommunicationsMay 5, 2026Result: passed
(8) (1) (0) (0)
Vote: Committee vote · Energy And Telecommunications
Senate Energy And TelecommunicationsApr 28, 2025Result: passed
(9) (0) (0) (0)

Cosponsors

Liz Krueger, Luis R. Sepúlveda and 3 more on Agora

Democratic5

See the full list on nysenate.gov

The sponsor's argument

Why Rachel May says this is needed

Since 2015 over $200 million in RGG1 proceeds have been transferred away from the clean energy technology account and into the general fund during the state budget process and used for other programs that are inconsistent with their intended use. The Department of Environmental Conservation regulates the RGGI program; NYSERDA administers the fund where CO2 emission allowance proceeds are deposited. NYSERDA is charged with using those funds to maximize reductions in greenhouse gases and co-pollutants in disadvantaged communities. Furthermore, the targets set by the state's new climate law, the CLCPA, make it even more critical that clean energy funds be used for their intended purpose. The very goals set forth in our state's nation-leading climate law are being undermined by the pattern of redirecting or 'sweeping' of RGGI proceeds into the general fund, necessitating this legislation to codify their intended use - supporting disadvantaged communities in the transition away from fossil fuels.

This is the sponsor's own case for the bill, quoted from their memorandum. It is not Agora's description of what the bill does.

Full history

May 6, 2026
Reported out of committee
REPORTED AND COMMITTED TO FINANCE
NY Senate
Jan 7, 2026
Referred to committee
REFERRED TO ENERGY AND TELECOMMUNICATIONS
NY Senate
Apr 28, 2025
Reported out of committee
REPORTED AND COMMITTED TO FINANCE
NY Senate
Jan 22, 2025
Referred to committee
REFERRED TO ENERGY AND TELECOMMUNICATIONS
NY Senate

About this record

Summary: The summary comes from NY Open Legislation, the New York State Senate's public record. For more, see How we handle summaries.
Cosponsors: The list shows the cosponsors who are on Agora, A to Z. The official record may list more.
Party colors: Parties are shown in the same neutral colors.
Source: From NY Open Legislation, the NY Senate and Assembly, and official rosters. This record was last updated Oct 31, 2026. About our data

Read the record

Read on NY Senate (opens in a new tab) The official record on nysenate.gov.

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