Vermont Statutes Title 29 Sec. 168b
Terms Used In Vermont Statutes Title 29 Sec. 168b
- 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.
- following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
- Municipality: shall include a city, town, town school district, incorporated school or fire district or incorporated village, and all other governmental incorporated units. See
§ 168b. Municipal Energy Revolving Fund
(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 Environment and Energy 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.)