AN ACT CONCERNING THE CONSERVATION AND LOAD MANAGEMENT PROGRAM FUNDS.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. Subsection (e) of section 16-245m of the general statutes is repealed and the following is substituted in lieu thereof (Effective from passage):

(e) Notwithstanding the provisions of subsections (a) to (d), inclusive, of this section, the Department of Public Utility Control shall authorize the disbursement of a total of one million dollars in each month, commencing with July, 2003, and ending with [July] June, 2005, from the Energy Conservation and Load Management Funds established pursuant to said subsections. The amount disbursed from each Energy Conservation and Load Management Fund shall be proportionately based on the receipts received by each fund. Such disbursements shall be deposited in the General Fund, except that, on and after the effective date of this section, no such funds may be disbursed to the General Fund unless such funds are encumbered by an existing financial instrument before the effective date of this section.