(a) There is established in the Department of Commerce, Community, and Economic Development the residential energy conservation fund to carry out the purposes of Alaska Stat. § 45.88.100 – 45.88.190. Loans and grants made under Alaska Stat. § 45.88.100 – 45.88.190 may be used to purchase, construct, and install an energy conservation improvement in residential buildings.
Terms Used In Alaska Statutes 45.88.100
Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(b) Money in the fund may be used by the legislature to make appropriations for costs of administering Alaska Stat. § 45.88.100 – 45.88.190.(c) On June 30 of each fiscal year the unexpended and unobligated cash balance of the fund that is attributable to loans owned by the fund lapses into the general fund.
