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Bill

Bill

A 1048

Directs certain unclaimed electric, gas, and water public utility deposits in Unclaimed Utility Deposits Trust Fund and societal charge revenues to be paid to Statewide nonprofit public utility assistance organizations meeting certain eligibility criteria.

2026-2027 Regular Session Introduced by Wayne DeAngelo

Redirects unclaimed utility deposits and societal charge revenues to nonprofit utility assistance organizations meeting specified eligibility requirements.

Introduced, Referred to Assembly Telecommunications and Utilities Committee
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Bill Summary · A 1048

Legislative bill overview

Assembly Bill A 1048 directs unclaimed deposits from electric, gas, and water utilities—along with revenues from societal charges—to be distributed to nonprofit organizations that provide public utility assistance. The bill establishes eligibility criteria that these organizations must meet to receive funding from the Unclaimed Utility Deposits Trust Fund.

Why is this important

Unclaimed utility deposits represent money customers paid but never recovered, often from low-income households or those who moved away. Redirecting these funds to utility assistance nonprofits could help vulnerable populations pay energy and water bills, while giving unclaimed money a public purpose rather than letting it accumulate indefinitely in state accounts.

Potential points of contention

  • Rightful ownership questions: Some argue unclaimed deposits should be returned to customers or their heirs rather than redirected to nonprofits, even if customers are difficult to locate
  • Trust fund depletion: Using the Unclaimed Utility Deposits Trust Fund for assistance programs may reduce capital available for other purposes the fund was intended to serve
  • Nonprofit selection criteria: The bill mentions "certain eligibility criteria" but doesn't specify them in detail, raising questions about which organizations qualify, potential favoritism, and oversight mechanisms
  • Societal charge revenue use: Mixing societal charge revenues (utility surcharges) with unclaimed deposits conflates two different funding sources with different legal implications

Compiled from official sources — confirm details with the bill’s official record.

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