Sec. 32-242a. Purchase of air pollution emission reduction credits. - Connecticut Statutes

      Sec. 32-242a. Purchase of air pollution emission reduction credits. (a) Notwithstanding any provision of the general statutes, the Secretary of the Office of Policy and Management may acquire, purchase or otherwise procure air pollution emission reduction credits certified by the Commissioner of Environmental Protection pursuant to section 22a-174f on such terms as the secretary may deem appropriate. The secretary, with the concurrence of the Commissioner of Economic and Community Development and the Commissioner of Environmental Protection, may establish procedures regarding the state's procurement and transfer of such credits as may be necessary. Any procurement, transfer or other use of such credits shall comply with the federal Clean Air Act and any regulations, requirements and guidance issued by the United States Environmental Protection Agency or the Department of Environmental Protection regarding emission reduction credits.

      (b) All moneys received by the department in consideration for air pollution emission reduction credits previously acquired by the secretary and transferred hereunder, including but not limited to lease payments, licensee fees and payments of principal and interest on any loans or purchase money obligations, shall be paid over to the Office of Policy and Management and credited to the program to be administered by the secretary under this section. Any additional credits procured with such moneys shall be held as part of such program and shall be available to the secretary to provide financial assistance as set forth in section 32-242 in accordance with the procedures established by the secretary pursuant to subsection (a) of this section. Any balance remaining in such program at the end of any fiscal year shall be carried forward in the program for the fiscal year next succeeding.

      (c) Notwithstanding any provision of the general statutes, any administrative expenses or any other costs of the secretary in carrying out the purposes of this section may be paid from the resources of such program.

      (May Sp. Sess. P.A. 94-2, S. 13, 203; P.A. 95-250, S. 1; P.A. 96-211, S. 1, 5, 6.)

      History: May Sp. Sess. P.A. 94-2, S. 13, effective July 1, 1994; P.A. 95-250 and P.A. 96-211 replaced Commissioner and Department of Economic Development with Commissioner and Department of Economic and Community Development.