Utility board would choose nonprofit for electric and gas utilities' unclaimed property

The utility board would designate the statewide nonprofit named to receive yearly trust fund payments. The payments come from unclaimed property turned over by electric and gas utilities. The administrator may skip a yearly payment if they decide that is wise. Otherwise, the nonprofit receives 75% of the covered funds. It may use the money only to prevent electric or gas shutoffs or restore service for customers seeking help. If enacted, this change would take effect immediately. A yearly payment is due within 45 days after the administrator receives the funds.

The utility board would set aside $2.5 million from available utility charge funds for grants. The costs concern electric and gas customers seeking temporary help from the chosen nonprofit. The money must be available in the utility board's accounts. The board must choose the statewide nonprofit through an open, competitive application process. Grants may cover only costs to prevent electric or gas shutoffs or restore service. The allocation is for the state budget year beginning July 1, 2019. If enacted, this section would take effect immediately and end when all its funds are paid to program applicants.