2005 Vermont Code - § 2603. — Home heating fuel assistance trust fund

§ 2603. Home heating fuel assistance trust fund

(a) There is created in the state treasury a fund to be known as the home heating fuel assistance trust fund to be expended by the director in accordance with this chapter and other federal laws and rules adopted pursuant thereto.

(b) The fund shall be composed of the receipts from any taxes dedicated to the fund, and such other funds as may be appropriated to it by the general assembly, including funds from the federal Low Income Home Energy Assistance Program (LIHEAP).

(c) All balances in the fund at the end of any fiscal year shall be carried forward and remain part of the fund. Interest earned by the fund shall be deposited into the fund. Disbursements from the fund shall be made by the state treasurer on warrants drawn by the commissioner of finance and management.

(d) The secretary may spend, in anticipation of federal receipts into the home heating fuel assistance trust fund established under this section, a sum no greater than 75 percent of the federal block grant funds allocated to Vermont for the current federal fiscal year under the Low Income Home Energy Assistance Program (LIHEAP), for the purpose of permitting preseason purchases of fuel and other cost-effective purchasing practices authorized by subsection 2602(c) of this title, in accordance with rules adopted by the secretary. (Added 1995, No. 158 (Adj. Sess.), § 1, eff. May 10, 1996; amended 2001, No. 63, § 129b, eff. June 16, 2001.)