Terminates the requirement that the public utilities commission allocate five million dollars ($5,000,000) annually to the Rhode Island infrastructure bank for use with energy efficient programs.

Plain-English Summary

This bill would eliminate a current requirement that Rhode Island's Public Utilities Commission (PUC) send $5 million every year to the Rhode Island Infrastructure Bank. Right now, that money is specifically designated to fund energy efficiency programs — projects that help reduce energy use and costs, such as upgrades to buildings, heating systems, or other improvements that save energy over time.

If this bill passes, the Public Utilities Commission would no longer be obligated to direct that $5 million annually to the Infrastructure Bank for these purposes. In practical terms, this means the Rhode Island Infrastructure Bank would lose a guaranteed source of funding it currently relies on to support energy efficiency initiatives across the state.

The people most directly affected would be Rhode Island residents, businesses, or organizations that currently benefit from — or might have benefited from — energy efficiency programs funded through this arrangement. This could also affect ratepayers, since the $5 million originally comes from utility-related funds. The bill has been introduced and sent to the Senate Commerce Committee, where it will be reviewed before any further action is taken.