A 8876 New York Assembly · 2025 Regular Session

Relates to the use of funds in the New York state climate investment account

This bill allows unused funds in New York's climate investment account - collected from electricity customers through utility bills - to be returned directly to those customers. Specifically, any uncommitted funds collected via the "bill-as-you-go" system (where fees are added to monthly utility bills) must be credited back to ratepayer accounts by the end of each fiscal year. The bill modifies existing law to require this refund, ensuring customers who paid these climate-related fees receive the unused portion. It directly affects electricity customers who contributed to the climate investment account but did not have their funds fully allocated for climate projects. The change is a procedural adjustment to fund handling, not a new policy for climate initiatives.
Bill status in committee 1 of 4 stages cleared
Introduction
Jun 2025
Committee Review
Floor Vote
Governor
Introduced Jun 9, 2025 Last action Feb 12, 2026
Maddy AI version diff · 1 comparison

What changed between versions

A8876 A8876A · 4 edits
MODERATE
The bill was re-introduced with an additional sponsor and moved through committee procedures. The core policy change expands how leftover funds from the climate investment account are handled, allowing surplus money collected on a 'bill-as-you-go' basis to be credited back to ratepayer accounts if not used for specific climate projects or transferred to the energy research authority. This change also clarifies that these provisions apply retroactively to the 2025 fiscal year.
Scope change
The bill's applicability was expanded to include retroactive application to the 2025 fiscal year, whereas the original version did not specify a retroactive start date.
TIMELINE

Added a provision stating the act applies retroactively to the 2025 fiscal year and all subsequent fiscal years.

FISCAL

Changed the description of the law's origin from 'as amended' to 'as added' in the citation text.

Expanded the list of funds eligible for credit to ratepayer accounts to explicitly include funds collected by utilities but not yet transferred to the account or the energy research authority.

SCOPE

Added a new co-sponsor (Palmesano) and updated committee status to reflect re-commitment after discharge and amendment.

Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
4
Key actions
2
Committee
2
Amendments
2
Feb 12, 2026
Lower · Passed
PRINT NUMBER 8876A
lower
Feb 12, 2026
Lower · Passed
AMEND AND RECOMMIT TO ENVIRONMENTAL CONSERVATION
lower
Jan 7, 2026
Committee
REFERRED TO ENVIRONMENTAL CONSERVATION
lower
Jun 9, 2025
Committee
REFERRED TO ENVIRONMENTAL CONSERVATION
lower
1 primary · 11 co-sponsors

Sponsors