Virginia § 45.2-1731 (Effective until January 1, 2027) Electric Vehicle Rebate Program Fund

Virginia Statutes

§ 45.2-1731 — (Effective until January 1, 2027) Electric Vehicle Rebate Program Fund

Virginia § 45.2-1731

JurisdictionVirginia

Title 45.2Mines, Minerals, and Energy

Subtitle VOther Sources of Energy; Energy Policy

Ch. 17Other Sources of Energy Generally; Energy Policy

Art. 8Electric Vehicle Rebate Program

This text of Virginia § 45.2-1731 ((Effective until January 1, 2027) Electric Vehicle Rebate Program Fund) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 45.2-1731 (2026).

Text

A.There is hereby created in the state treasury a special nonreverting fund to be known as the Electric Vehicle Rebate Program Fund. The Fund shall be established on the books of the Comptroller. All funds appropriated for such purpose and any gifts, donations, grants, bequests, and other funds received on its behalf shall be paid into the state treasury and credited to the Fund. Interest earned on moneys in the Fund shall remain in the Fund and be credited to it. Any moneys remaining in the Fund, including interest thereon, at the end of each fiscal year shall not revert to the general fund but shall remain in the Fund. Moneys in the Fund shall be used solely for the purposes set forth in this article, including expenses related to the administration of the Program by the Department. Exp

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A. There is hereby created in the state treasury a special nonreverting fund to be known as the Electric Vehicle Rebate Program Fund. The Fund shall be established on the books of the Comptroller. All funds appropriated for such purpose and any gifts, donations, grants, bequests, and other funds received on its behalf shall be paid into the state treasury and credited to the Fund. Interest earned on moneys in the Fund shall remain in the Fund and be credited to it. Any moneys remaining in the Fund, including interest thereon, at the end of each fiscal year shall not revert to the general fund but shall remain in the Fund. Moneys in the Fund shall be used solely for the purposes set forth in this article, including expenses related to the administration of the Program by the Department. Expenditures and disbursements from the Fund shall be made by the State Treasurer on warrants issued by the Comptroller upon written request signed by the Director of the Department.

B. All funds shall be allocated for the payment of rebates and enhanced rebates in this article. Beginning July 1, 2024, 25 percent of any unused funds remaining in the Fund at the end of the fiscal year shall be reallocated to fund electric vehicle charging infrastructure as approved by the General Assembly.