North Carolina environmental advocates are having trouble listing all the bad new laws and money decisions crammed into the 400-plus page budget agreement. As the good people at the League of Conservation Voters reported in an update this afternoon, the budget agreement includes provisions:
- Allowing the Renewable Energy Investment Tax Credit (REITC) to expire. For every $1 in tax credit allotted to our renewable energy industry, it has generated $1.54 in new state and local revenue. That means more money is coming into our coffers, creating jobs and drawing in a total economic impact of $4.7 billion. Allowing the REITC to expire will likely damage North Carolina’s ability to attract new businesses and investors, especially for our state’s Tier 1 and Tier 2 counties that have received more than $1.9 billion in direct investment thanks to REITC.
- Earmarking $500,000 for shale gas exploration (aka “fracking”). The irony of allowing a “subsidy” for solar to expire but include half a million dollars in handouts to an industry that already has the funds and the competitive advantage shouldn’t be lost on anyone. Regardless, this is a terrible use of state revenue dollars.
- Creating loopholes for repeat violators and reducing penalties for those who break state sediment and erosion control laws. While we were pleased to see the Sedimentation Control Commission remain intact, this overseeing body won’t be able to actually enforce any of the rules and protect us and our natural resources from pollution with these gaping holes.
- Extending funding for the botched SolarBee project to the tune of $1.5 million and delaying the implementation of the Jordan Lake Rules for at least three more years. This simply allows the pollution load to grow and grow, making future clean up efforts even more difficult and costly.
The LCV list doesn’t include the decision to expand controversial terminal groins that will liteally change the shape of the state’s coastline or, undoubtedly, numerous other provisions that will only come to light days after the new budget is law.
In other words, the news from Jones Street is bad and getting worse.