2013 Kentucky Revised Statutes CHAPTER 42 - FINANCE AND ADMINISTRATION CABINET 42.584 Bluegrass turns green public sector grant fund -- Purpose -- Eligibility -- Payback period -- Administrative regulations.
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42.584 Bluegrass turns green public sector grant fund -- Purpose -- Eligibility
-- Payback period -- Administrative regulations.
(1)
(2)
(3)
(4)
(5)
(6)
(a)
The bluegrass turns green public sector grant fund is created as a trust
and agency fund. The fund shall be administered by the cabinet and shall
consist of:
1.
Proceeds from grants, contributions, appropriations, or other
moneys made available for purposes of the trust and agency fund;
and
2.
Funds derived from the bond issuance authorized under 2008 Ky.
Acts ch. 139, sec. 27.
(b) Notwithstanding KRS 45.229, fund amounts not expended at the close of
the fiscal year shall not lapse but shall be carried forward to the next fiscal
year. Any interest earnings of the trust and agency fund shall become part
of the trust and agency fund and shall not lapse.
Trust and agency fund moneys shall be used by the cabinet to provide grants
to the public sector for engineered demand-side management projects in public
sector buildings. The cabinet shall not award more than one (1) grant per
public university campus or public community college campus within an
eighteen (18) month period.
To be eligible for a grant under this section, the cost of a proposed engineered
demand-side management project shall be at least five thousand dollars
($5,000) and shall not exceed one million five hundred thousand dollars
($1,500,000) per project.
Beginning July 1, 2009, and ending June 30, 2013, the simple payback period
for an approved engineered demand-side management project shall be no
more than five (5) years. Beginning July 1, 2013, the cabinet may consider a
simple payback period of no more than twelve (12) years.
Moneys in the grant fund are hereby appropriated for the purposes set forth in
subsection (2) of this section.
The cabinet shall not approve an applicant for a grant under this section,
unless the applicant:
(a) Agrees to undergo and pay for an energy audit to establish a baseline of
energy consumption; and
(b) Meets all the requirements established in this section and any regulations
promulgated thereunder.
Effective:February 25, 2010
History: Repealed and reenacted 2010 Ky. Acts ch. 5, sec. 22, effective February
25, 2010. -- Created 2008 Ky. Acts ch. 139, sec. 23, effective July 15, 2008.
Legislative Research Commission Note (2/25/2010). 2010 Ky. Acts ch. 5, sec.
28, provides that the repeal and reenactment of this section in that Act "shall
apply retroactively to July 15, 2008."
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