SB 162: "An Act relating to a heating fuel energy relief program; and providing for an effective date."

00 SENATE BILL NO. 162 01 "An Act relating to a heating fuel energy relief program; and providing for an effective 02 date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 44.33 is amended by adding a new section to read: 05 Article 5A. Heating Fuel Energy Relief Payments. 06 Sec. 44.33.325. Heating fuel energy relief payment program. (a) The 07 Department of Commerce, Community, and Economic Development shall establish 08 and, subject to appropriation made for the purpose, maintain a program that may be 09 used to provide energy relief to customers relating to the retail sale of heating fuel. 10 Whenever the average monthly light sweet commodity price per barrel of low sulfur, 11 easily refined grade of crude oil, traded on the New York Mercantile Exchange for the 12 previous month exceeds $75, the energy relief payment provided by this section is the 13 amount necessary to reduce the retail price of heating fuel to not more than 14 (1) $2.50 a gallon for the period that begins on the effective date of

01 this section and ends June 30, 2010; 02 (2) $2.75 a gallon for the period that begins July 1, 2010, and ends 03 June 30, 2011; 04 (3) $3 a gallon for the period that begins July 1, 2011. 05 (b) If money is appropriated for the purpose, the department shall pay the 06 energy relief payment described in (a) of this section to a fuel distributor that applies 07 for the energy relief payment on a form prepared by the department and who promises 08 not to charge customers more than the retail price specified in (a) of this section. 09 (c) The heating fuel assistance fund is created in the department, consisting of 10 money appropriated to the fund by the legislature. The department shall use money in 11 the fund for the sole purpose of defraying the payment of retail costs of heating fuel as 12 authorized by (a) of this section. 13 (d) Heating fuel for which an energy relief payment is paid under this section 14 is not eligible for home heating assistance payments under AS 47.25.621 - 15 AS 47.25.626. 16 (e) The department may adopt regulations to implement this section. 17 (f) In this section, "heating fuel" means Alaska Number 2 distillate or Alaska 18 Number 2 residential heating oil. 19 * Sec. 2. AS 44.33.325 is repealed June 30, 2012. 20 * Sec. 3. This Act takes effect immediately under AS 01.10.070(c).