§ 45.2-1916 — Low-to-Moderate Income Solar Loan and Rebate Fund

Virginia § 45.2-1916

• Jurisdiction: Virginia
• Title 45.2: Mines, Minerals, and Energy
• Subtitle V: Other Sources of Energy; Energy Policy
• Ch. 19: Solar Energy
• Art. 3: Clean Energy Advisory Board

Text

There is hereby established in the state treasury a special nonreverting fund to be known as the Low-to-Moderate Income Solar Loan and Rebate 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 of extending loans or paying rebates to electric customers who complete solar installations or energy efficiency improvements pursuant to the provisions of § 45.2-1917. 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.

Legislative History

2019, c. 554, § 45.1-398; 2021, Sp. Sess. I, c. 387.