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2011 Code of Virginia
Title 67 VIRGINIA ENERGY PLAN.
Chapter 13 Voluntary Solar Resource Development Fund (67-1300 thru 67-1305)
67-1302 (Expires July 1, 2016) Voluntary Solar Resource Development Fund established; administration; permi...

Universal Citation:
VA Code § 67-1302 (2001 through Reg Session)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

67-1302. (Expires July 1, 2016) Voluntary Solar Resource Development Fund established; administration; permitted uses of moneys in Fund.

A. There is hereby established in the state treasury a special nonreverting fund to be known as the Voluntary Solar Resource Development Fund. The Fund shall consist of such moneys as may be contributed by customers of electric utilities pursuant to 67-1301, other gifts and grants that may be received by the Department for the Fund, and moneys repaid to the Fund by borrowers of loans made pursuant to this chapter.

B. Any moneys deposited to or remaining in the Fund during or at the end of each fiscal year or biennium, including interest thereon, shall not revert to the general fund but shall remain in the Fund and be available for lending or other permitted uses under this chapter in ensuing fiscal years. Interest on all moneys in the Fund shall remain in the Fund and be credited to it.

C. The Department shall administer the Fund. The Fund shall be used solely to provide loans for solar energy projects as provided under this chapter, and to reimburse the Department for its reasonable costs incurred in administering this program.

(2011, cc. 806, 839.)

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