Speaker Terlaje optimistic Energy Credit program will be funded

Democrat Speaker Therese Terlaje

Democrat Speaker Therese Terlaje is optimistic about finding all the funds for the Energy Credit extension.

As PNC reported on May 4, the funds for Bill 83-37, introduced by Terlaje, were allegedly located.

Terlaje put forth an amendment to bill 83 that, if enacted, would appropriate $15.5 million from Fiscal Year 2022 excess revenues and $10.5 million from FY 2023 excess revenues. 

However, based on PNC calculations, the sum of these appropriations stands a couple hundred thousand dollars less than the $26.3 million that were needed for the five month extension.

There is still a remaining amount of $260 thousand needed to fully cover the five month extension to the Ayuda Para I TaoTaoTa energy credit program.

Although it is still unclear where this remainder of funds will be coming from, the 37th Guam Legislature is set to resume session at 10:00 a.m. on May 9 at the Guam Congress Building in Hagatna to decide on the measure.

In a comment to PNC, the Speaker said she is optimistic that during the upcoming session the legislature, along with the Office of Finance and Budget, will be able to find a solution.

“I’m very confident that when we get on the floor and with the help of OFP and of course we’re gonna have the physical team of the Government in front of us on our Committee of the whole, to be able to find the means of covering everyone,” said Terlaje. “Yes, that’s the intention and I am very confident that we’re going to be able to do that.”