15A NCAC 01U .0405      Proceeds and distribution

(a)  Funds generated by the sale or transfer of EPAct credits by the State Energy Office 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)           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

(4)           The Energy Policy Council shall review and approve the annual plan, pursuant to G.S. 113B-6(3).

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

Eff. May 1, 2007;

Readopted Eff. June 1, 2021;

Transferred from 01 NCAC 41D .0301 Eff. September 1, 2024.