(a)(1) There is hereby established in the state treasury the compressed air energy storage fund. Such fund shall be administered by the commission in accordance with the provisions of this section for the purpose of administering the provisions of the compressed air energy storage act.
(2)The commission shall remit to the state treasurer in accordance with the provisions of K.S.A. 75-4215, and amendments thereto, all moneys received by the commission for the purposes of the compressed air energy storage act. Upon receipt of the remittance the state treasurer shall deposit the entire amount in the state treasury and credit it to the fund. The commission is authorized to receive from any private or governmental source any funds made available for the purposes of the compressed air energy s Free access — add to your briefcase to read the full text and ask questions with AI
(a) (1) There is hereby established in the state treasury the compressed air energy storage fund. Such fund shall be administered by the commission in accordance with the provisions of this section for the purpose of administering the provisions of the compressed air energy storage act.
(2) The commission shall remit to the state treasurer in accordance with the provisions of K.S.A. 75-4215, and amendments thereto, all moneys received by the commission for the purposes of the compressed air energy storage act. Upon receipt of the remittance the state treasurer shall deposit the entire amount in the state treasury and credit it to the fund. The commission is authorized to receive from any private or governmental source any funds made available for the purposes of the compressed air energy storage act.
(3) All expenditures from the compressed air energy storage fund shall be made in accordance with appropriation acts and upon warrants of the director of accounts and reports issued pursuant to vouchers approved by the chairperson of the commission or a person designated by the chairperson.
(b) The commission is authorized to use moneys from the compressed air energy storage fund to pay the cost of:
(1) All activities related to permitting activities, including, but not limited to, development and issuance of permits, compliance monitoring, inspections, well closures, underground storage closure, long-term monitoring and enforcement actions;
(2) review and witnessing of test procedures;
(3) review and witnessing of routine workover or repair procedures;
(4) investigation of violations, complaints, pollution and events affecting public health;
(5) design and review of remedial action plans;
(6) contracting for services needed to supplement the commission's staff expertise in facility investigations;
(7) consultation needed concerning remedial action at a permitted facility;
(8) mitigation of adverse environmental impacts;
(9) emergency or long-term remedial activities;
(10) legal costs, including expert witnesses, incurred in administration of the provisions of the compressed air energy storage act; and
(11) costs of program administration.
(c) On or before the 10 th of each month, the director of accounts and reports shall transfer from the state general fund to the compressed air energy storage fund interest earnings based on:
(1) The average daily balance of moneys in the compressed air energy storage fund for the preceding month; and
(2) the net earnings rate of the pooled money investment portfolio for the preceding months.