Maine legislation · 132nd Legislature
Maine LD1412: An Act to Increase Contingency Reserves for Maine's Consumer-owned Electric Transmission and Distribution Utilities
Status: Signed into law, June 9, 2025
What the bill says
An Act to Increase Contingency Reserves for Maine's Consumer-owned Electric Transmission and Distribution Utilities" Amend the bill by striking out everything after the enacting clause and inserting the following: '.
From the engrossed text:
An Act to Increase Contingency Reserves for Maine's Consumer-owned Electric Transmission and Distribution Utilities" Amend the bill by striking out everything after the enacting clause and inserting the following: 'Sec. 1. 35-A MRSA §3503, sub-§5, ¶C, as amended by PL 1999, c. 398, Pt. A, §87 and affected by §§104 and 105, is further amended by amending subparagraph (3) to read: (3) To provide for a contingency reserve fund, 1/2 of which may be used for capital purposes, to reflect up to a 25% 40% addition to yearly revenues over the amount required to operate the utility, not including purchased power supply costs, if any. The commission may authorize a utility to establish rates to provide for a contingency reserve fund to reflect an amount greater than a 40% addition to yearly revenues over the amount required to operate the utility. Any surplus in excess of this 25% 40% or the percentage authorized by the commission in accordance with this subparagraph must be used to offset future revenue requirements in the setting of rates. Any interest generated on these funds must be deposited into the contingency reserve fund. The balance in the contingency reserve fund at the close of the utility's fiscal year may not exceed 25% 40% or the percentage authorized by the commission of the yearly revenues over …
Sponsors
- John Ducharme (R, 71) · primary sponsor
- Roger Albert (R, 2)
- Susan Bernard (R, 1)
- Steven Foster (R, 32)
- Joseph Rafferty (D, 34)
- Daniel Sayre (D, 135)
- Stewart, Trey L. (R, 2)
- Gregory Swallow (R, 7)
Latest actions
- : PASSED TO BE ENACTED, in concurrence.
- : PASSED TO BE ENACTED. Sent for concurrence. ORDERED SENT FORTHWITH.
- : Reports ReadOn motion by Senator LAWRENCE of York the Majority Ought to Pass as Amended by Committee Amendment "A" (H-286) Report ACCEPTED. Bill READ ONCE. Committee Amendment "A" (H-286) READ and ADOPTED. Under suspension of the Rules, READ A SECOND TIME and PASSED TO BE ENGROSSED AS AMENDED by Committee Amendment "A" (H-286) in concurrence.
- : Reports READ.On motion of Representative SACHS of Freeport, the Majority Ought to Pass as Amended Report was ACCEPTED.The Bill was READ ONCE.Committee Amendment "A" (H-286) was READ and ADOPTED.Under suspension of the rules, the Bill was given its SECOND READING without REFERENCE to the Committee on Bills in the Second Reading.The Bill was PASSED TO BE ENGROSSED as Amended by Committee Amendment "A" (H-286). Sent for concurrence. ORDERED SENT FORTHWITH.
- : The Bill was REFERRED to the Committee on ENERGY, UTILITIES AND TECHNOLOGY in concurrence
- : Committee on Energy, Utilities and Technology suggested and ordered printed. The Bill was REFERRED to the Committee on ENERGY, UTILITIES AND TECHNOLOGY.Sent for concurrence. ORDERED SENT FORTHWITH.
Subjects: Legislature, CONTINGENCY RESERVES, Senate, Other, PLANNING, ELECTRIC UTILITIES
Common questions
- What is LD1412?
- LD1412 is a bill in the Maine Legislature (132nd Legislature): An Act to Increase Contingency Reserves for Maine's Consumer-owned Electric Transmission and Distribution Utilities.
- What does LD1412 do?
- In its own words: An Act to Increase Contingency Reserves for Maine's Consumer-owned Electric Transmission and Distribution Utilities" Amend the bill by striking out everything after the enacting clause and inserting the following: '.
- What is the status of LD1412?
- Signed into law as of June 9, 2025. Latest action: PASSED TO BE ENACTED, in concurrence. (June 2, 2025).
- Who sponsored LD1412?
- John Ducharme (R, 71), with 7 co-sponsors.
- Where is the official record for LD1412?
- On the Maine Legislature website: https://legislature.maine.gov/legis/bills/display_ps.asp?LD=1412&snum=132
Source: official Maine record. Tracked by Delilah, AI for legislation across all 50 states and Congress.