Percentage of Income Payment Program; created.

Department of Housing and Community Development; Percentage of Income Payment Program. Creates the Percentage of Income Payment Program (PIPP), which caps the monthly electric utility payment of low-income participants at six percent or, if the participant's home uses electric heat, 10 percent, of the participant's household income. The bill sets forth eligibility criteria for participation in PIPP, establishes the PIPP Fund to pay electric utility providers the balance of low-income participants' accounts and to fund energy efficiency and weatherization initiatives, and provides directives to the Department of Housing and Community Development regarding the administration of PIPP. The bill repeals the energy assistance and weatherization pilot program operated by all Phase I and II Utilities for low-income, elderly, and disabled individuals.