Ethanol production incentives; to provide a continuing appropriation; to provide for a transfer; and to provide for a report.
Impact
The legislation signifies a shift in North Dakota's approach toward carbon management and renewable energy development. By focusing on low-carbon fuels and the efficiency of ethanol production, the bill looks to bolster the state's commitment to reducing carbon emissions. The inclusion of financial incentives may encourage local ethanol producers to invest in new infrastructure and technology, promoting economic growth and sustainability within the energy sector. The transfers of funds from existing programs into the new low-carbon fuels fund will facilitate this transition effectively.
Summary
Senate Bill 2333 aims to establish a low-carbon fuels fund within the North Dakota Century Code, promoting the use of low-carbon fuels and providing incentives for ethanol production facilities to enhance their efficiency and reduce carbon intensity. The bill will create a special fund allocated for these purposes, which includes a continuing appropriation to offer incentives for eligible capital projects that improve production processes and carbon capture. It also seeks to streamline the distribution of funds and oversight associated with these incentives.
Sentiment
The discussion surrounding SB 2333 appears to have received a generally supportive sentiment among those advocating for sustainable energy practices and reduced carbon emissions. Proponents argue that the bill provides essential support for the renewable energy sector and aligns with broader environmental goals. However, there might be opposition from some sectors concerned about the long-term implications of focusing on particular types of energy production or the reduction of funds for other renewable initiatives that are not related to low-carbon fuels.
Contention
A notable point of contention revolves around the repeal of existing ethanol production incentives as part of establishing the new low-carbon fuels fund. While proponents believe this streamlining will lead to a more focused and efficient funding strategy, opponents may raise concerns about the potential loss of benefits for ethanol producers who do not meet the new eligibility criteria. Additionally, discussions about measuring the effectiveness of the proposed incentives and the verification processes for carbon intensity may feature in future debates.
Fuel production facility loan guarantee reserve funding, the housing incentive fund, the powers of the North Dakota pipeline authority, definitions for the clean sustainable energy authority, a clean sustainable energy authority line of credit, and an appropriation from the state fiscal recovery fund; to provide a contingent appropriation; to provide for a transfer; to provide an exemption; to provide for a study; to provide for a report; to provide a statement of legislative intent; to provide an effective date; and to declare an emergency.
A transfer of Bank of North Dakota profits to a water infrastructure revolving loan fund; to provide for a transfer; to provide an exemption; to provide for a legislative management study; to provide a report; to provide a penalty; to provide for application; to provide a retroactive effective date; to provide a contingent effective date; to provide an effective date; and to declare an emergency.
The salary of the state tax commissioner, property assessment increase notices, and use tax exemptions; to provide an exemption; to provide for a transfer; to provide an effective date; and to provide an expiration date.
Oil and gas tax revenue hedging; to provide an appropriation; to provide a continuing appropriation; to provide for a transfer; to provide a statement of legislative intent; and to declare an emergency.
Public employees retirement system retirement plan contribution rates upon reaching full funding; to provide an appropriation; to provide for a transfer; to provide for application; and to provide an effective date.
Public employees retirement system retirement plan contribution rates upon reaching full funding; to provide an appropriation; to provide for a transfer; to provide for application; and to provide an effective date.