§ 33:1419.4 — Alternative Fuel Vehicle Revolving Loan Fund

Louisiana § 33:1419.4

• Jurisdiction: Louisiana
• Title 33: Municipalities and Parishes

Text

§1419.4. Alternative Fuel Vehicle Revolving Loan Fund
A. There is hereby established the Alternative Fuel Vehicle Revolving Loan Fund,
hereinafter referred to in this Subpart as the "alternative fuels loan fund", which shall be
maintained, operated, and administered by the Department of Conservation and Energy.
B.(1) All grants, gifts, and donations received by the state for the purposes of the
alternative fuels loan fund program; money appropriated by the legislature to the fund; and
other revenues as may be provided by law, including federal funds and state funds to match
any federal funds which are available to fund the Alternative Fuel Vehicle Revolving Loan
Fund Program as provided in this Subpart, shall be deposited into and credited to the
Alternative Fuel Vehicle Revolving Loan Fund.
(2) All money credited to the accounts of, or to be received by the alternative fuels
loan fund, including sums to be received pursuant to grants, gifts, donations, or letters of
credit, shall be expended, committed, or pledged in a manner consistent with the terms and
conditions of the grants, gifts, donations, letters of credit and other sources of such deposits,
credits, and letters of credit and as provided in federal and state law.
C.(1) The money in the fund not retained or used for loans and other purposes of the
Alternative Fuel Vehicle Revolving Loan Program shall be invested by the treasurer in the
same manner as money in the state general fund and interest earned on the investment of the
money shall be credited to the fund after compliance with the requirements of Article VII,
Section 9(B) relative to the Bond Security and Redemption Fund.
(2) All unexpended and unencumbered money in the fund at the end of a fiscal year
shall remain in the fund to be used for loans and other purposes of the program in future
fiscal years.
D.(1) The money in the alternative fuels loan fund shall be appropriated by the
legislature and shall be used by the Department of Conservation and Energy solely for
administrative costs of and the purposes of the Alternative Fuel Vehicle Revolving Loan
Fund Program as provided for in this Subpart.
(2) Repayment of principal and interest on program loans and other obligations
financed from the fund may be used to finance other program loans and obligations, provided
that reserves for expenditures for administration of the fund and program the department
deems necessary and prudent may be retained in the fund.

Legislative History

Acts 2010, No. 118, §1, eff. July 1, 2010; Acts 2023, No. 150, §8, eff. Jan. 10, 2024.