01 NCAC 41D .0301. PROCEEDS AND DISTRIBUTION

(a)  Funds generated by the sale or transfer of EPAct credits by the Department shall be deposited into the Alternative Fuel Revolving Fund.

(b)  The following shall be undertaken to determine the distribution of proceeds from the Alternative Fuel Revolving Fund:

(1)           The State Energy Office shall annually inform the NC Alternative Fuel Consortium of the amount of revenue accrued to the Alternative Fuel Revolving Fund and the percentage of these funds that were generated by participating state agencies, institutions or entities;

(2)           The State Energy Office shall organize meetings of the NC Alternative Fuel Consortium and the Credit Selling Work Group to discuss and prioritize distribution of funds;

(3)           Fund distribution shall be prioritized based on maximizing benefits to the State for the purchase of alternative fuel, related refueling infrastructure and AFV purchases;

(4)           An annual plan for the dispersion of Alternative Fuel Revolving Funds shall be prepared by the State Energy Office based on recommendations of the Alternative Fuels Consortium and the Credit Selling Work Group; and

(5)           The Energy Policy Council shall review and approve the annual plan.

 

History Note:        Authority G.S. 143-58.4; 143-58.5;

Eff. May 1, 2007.