establishing a committee to study New Hampshire's electric renewable portfolio standard and the renewable energy fund.

Removed the provision that would have transferred surplus renewable energy fund moneys (after administrative costs and offshore wind office funding) to the general fund effective June 30, 2026.

Removed the provision that would have required rebating surplus renewable energy fund moneys to all retail electric ratepayers on a per-kilowatt-hour basis starting July 1, 2027, estimated at approximately $6.45 million annually.

Fiscal impact changed from an estimated $6.45 million annual rebate to ratepayers (starting FY 2028) plus a $1 million increase to general fund revenue in FY 2027, to no fiscal impact on state, county, or local expenditures or revenue.

Added a study committee of four members (three House members including at least one from the science, technology, and energy committee, and one Senate member) to examine New Hampshire's renewable portfolio standard and renewable energy fund.

The committee is directed to study four specific matters: whether the class structure of the RPS still serves its original purpose, whether to transition to an energy standard design as recommended by the Department of Energy in 2025, the effect of integrating additional qualifying resources, and the feasibility of returning surplus revenue to ratepayers or redirecting it to higher-value programs.

The committee must hold its first meeting within 45 days of the effective date and report findings and recommendations to legislative leaders, policy committees, the governor, and the state library by November 1, 2026.

The bill's core mechanism changed entirely: instead of setting all RPS alternative compliance payment rates (Classes I-IV) to $0, it now directs that remaining moneys paid into the Renewable Energy Fund be rebated to ratepayers on a per-kilowatt-hour basis. ACPs continue at their existing rates.

The July 1, 2027 version of the amendment adds 'offshore wind initiatives' and 'office of offshore wind industry development' to the list of programs whose dedicated funding language is removed, indicating a phased approach to redirecting funds as new program categories emerge.

New requirement that any remaining REF funds after program spending must be rebated to ratepayers in the state on a per-kilowatt-hour basis, replacing the prior use of those funds for thermal and electrical renewable energy initiatives.

Removed the provision setting Class I ACP at $0 (previously $55), Class II at $0 (previously $55), Class III at $0 (previously $31.50), and Class IV at $0 (previously $26.50). The original bill would have eliminated the REF's sole revenue source.

Fiscal impact changed from an estimated $3.35 million revenue decrease in FY 2028 and $6.7 million in FY 2029 (due to ACP elimination) to an estimated $6.45 million per year in ratepayer rebates with only about $59,000 in state agency savings. Five positions lose REF funding instead of nine.

Added a two-phase effective date structure: Section 1 takes effect July 1, 2026, and Section 2 takes effect July 1, 2027. The original had a single effective date of July 1, 2027.