(a)Creation. There is established the Municipal Energy Revolving Fund to provide financing for the Municipal Energy Loan Program established in section 168a of this title.
(b)Monies in the Fund. The Fund shall consist of:
(1)monies appropriated to the Fund; and
(2)loan repayment by municipalities.
(c)Repayment terms. A municipality receiving funding shall repay the Fund through its regular operating budget according to a schedule established by the Commissioner.
(d)Fund administration.
(1)The Commissioner of Finance and Management may anticipate receipts to this Fund and issue warrants based thereon.
(2)The Commissioner of Buildings and General Services shall maintain accurate and complete records of all receipts by and expenditures from the Fund.
(3)All balances remaining at the
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(a) Creation. There is established the Municipal Energy Revolving Fund to provide financing for the Municipal Energy Loan Program established in section 168a of this title.
(b) Monies in the Fund. The Fund shall consist of:
(1) monies appropriated to the Fund; and
(2) loan repayment by municipalities.
(c) Repayment terms. A municipality receiving funding shall repay the Fund through its regular operating budget according to a schedule established by the Commissioner.
(d) Fund administration.
(1) The Commissioner of Finance and Management may anticipate receipts to this Fund and issue warrants based thereon.
(2) The Commissioner of Buildings and General Services shall maintain accurate and complete records of all receipts by and expenditures from the Fund.
(3) All balances remaining at the end of a fiscal year shall be carried over to the following year.
(e) Definitions. As used in this section:
(1) “Energy efficiency improvement” has the same meaning as in section 168 of this title.
(2) “Renewables” has the same meaning as in 30 V.S.A. § 8002.
(f) Annual report. Beginning on or before January 15, 2023 and annually thereafter, the Commissioner of Buildings and General Services shall report to the House Committees on Corrections and Institutions and on Energy and Digital Infrastructure and the Senate Committee on Institutions on the expenditure of funds from the Municipal Energy Revolving Fund. For each fiscal year, the report shall include a summary of each project receiving funding and the municipality’s expected savings. The provisions of 2 V.S.A. § 20(d) (expiration of required reports) shall not apply to the report to be made under this subsection. (Added 2021, No. 172 (Adj. Sess.), § 6, eff. July 1, 2022.)