2016 Rhode Island General Laws
Title 46 - Waters and Navigation
Chapter 46-12.2 - Rhode Island Infrastructure Bank
Section 46-12.2-14.1 - Electric and gas demand side charge proceeds as further security for debt funding energy efficiency improvements in public buildings.
§ 46-12.2-14.1 Electric and gas demand side charge proceeds as further security for debt funding energy efficiency improvements in public buildings.
(a) Upon receipt of the electric and gas demand side charge proceeds identified in §§ 39-2-1.2( l ) and 39-2-1.2(m), the Rhode Island infrastructure bank shall deposit the electric and gas demand side charge proceeds in a loan loss reserve fund to provide security for any loans made by the Rhode Island infrastructure bank or any bonds of the Rhode Island infrastructure bank issued to fund energy efficiency improvements in public buildings pursuant to § 46-12.2-4.2. The funds in the loan loss reserve fund described therein shall only be used after all other available loan loss reserve funds have been applied.
(b) After all loans and bonds in connection with the efficient buildings fund have been repaid in full, the balance of the loan loss reserve fund, including any accrued interest, shall be remitted to the electric and gas utilities described in § 39-2-1.2, to be used for energy efficiency programmatic purposes.
History of Section.
(P.L. 2015, ch. 141, art. 14, § 18.)
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