1.1    .................... moves to amend H. F. No. 375, the delete everything amendment
1.2(H0375DE1), as follows:
1.3Page 6, line 4, after "(c)" insert ", or that makes payments under paragraph (d)"
1.4Page 6, after line 20, insert:
1.5    "(d) A project is exempt from the provisions of subdivision 1 if it annually pays
1.6$....... per ton of carbon dioxide emissions emitted by the project to the Greenhouse Gas
1.7Offset Account established in subdivision 3."
1.8Page 6, before line 21, insert:
1.9    "Subd. 3. Fund established. The Greenhouse Gas Offset Account is established in
1.10the special revenue fund.
1.11    Subd. 4. Revenue sources. Revenues from the following sources must be deposited
1.12in the state treasury and credited to the Greenhouse Gas Offset Account:
1.13    (1) the proceeds of the fee imposed under subdivision 2, paragraph (d);
1.14    (2) money received by the commissioner of commerce in the form of gifts, grants
1.15other than federal grants, reimbursements or appropriations from other sources intended to
1.16be used for the purposes of the account; and
1.17    (3) interest that accrues on the account.
1.18    Subd. 5. Expenditures. Money in the account may only be spent on projects
1.19located in Minnesota that produce permanent, quantifiable, verifiable, and enforceable
1.20reductions in greenhouse gas emissions that would not otherwise have occurred, in excess
1.21of any other requirements in state law, including, but not limited to requirements under
1.22sections 216B.1691 and 216B.241.
1.23    Subd. 6. Appropriations. Revenues in the Greenhouse Gas Offset Account are
1.24appropriated to the commissioner of commerce for the purposes described in subdivision
1.255."
1.26Page 6, line 21, delete "3" and insert "7"