                                 CODE OF VIRGINIA

(EFFECTIVE UNTIL JANUARY 1, 2027) ELECTRIC VEHICLE REBATE PROGRAM FUND (§
45.2-1731)

A. There is hereby created in the state treasury a special nonreverting fund to
be known as the Electric Vehicle Rebate Program Fund. The Fund shall be
established on the books of the Comptroller. All funds appropriated for such
purpose and any gifts, donations, grants, bequests, and other funds received on
its behalf shall be paid into the state treasury and credited to the Fund.
Interest earned on moneys in the Fund shall remain in the Fund and be credited
to it. Any moneys remaining in the Fund, including interest thereon, at the end
of each fiscal year shall not revert to the general fund but shall remain in the
Fund. Moneys in the Fund shall be used solely for the purposes set forth in this
article, including expenses related to the administration of the Program by the
Department. Expenditures and disbursements from the Fund shall be made by the
State Treasurer on warrants issued by the Comptroller upon written request
signed by the Director of the Department.

B. All funds shall be allocated for the payment of rebates and enhanced rebates
in this article. Beginning July 1, 2024, 25 percent of any unused funds
remaining in the Fund at the end of the fiscal year shall be reallocated to fund
electric vehicle charging infrastructure as approved by the General Assembly.

HISTORY: 2021, Sp. Sess. I, c. 493, § 67-1905.