                                 CODE OF VIRGINIA

 LOW-TO-MODERATE INCOME SOLAR LOAN AND REBATE FUND (§ 45.2-1916)

There is hereby established in the state treasury a special nonreverting fund to
be known as the Low-to-Moderate Income Solar Loan and Rebate 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 of
extending loans or paying rebates to electric customers who complete solar
installations or energy efficiency improvements pursuant to the provisions of §
45.2-1917. 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.

HISTORY: 2019, c. 554, § 45.1-398; 2021, Sp. Sess. I, c. 387.