(1) (a) There is created an expendable special revenue fund known as the Conversion to Alternative Fuel Grant Program Fund. (b) The fund consists of: (i) appropriations to the fund; (ii) other public and private contributions made under Subsection (1)(c); (iii) fees established by the department, as described in Subsection (3)(a), and deposited into the fund; and (iv) interest earnings on cash balances. (c) The department may accept contributions from other public and private sources for deposit into the fund.
(a) There is created an expendable special revenue fund known as the Conversion to Alternative Fuel Grant Program Fund.
(b) The fund consists of: (i) appropriations to the fund; (ii) other public and private contributions made under Subsection (1)(c); (iii) fees established by the department, as described in Subsection (3)(a), and deposited into the fund; and (iv) interest earnings on cash balances.
(i) appropriations to the fund;
(ii) other public and private contributions made under Subsection (1)(c);
(iii) fees established by the department, as described in Subsection (3)(a), and deposited into the fund; and
(iv) interest earnings on cash balances.
(c) The department may accept contributions from other public and private sources for deposit into the fund.
(2) The department may make a grant with money available in the fund to a person who installs conversion equipment on an eligible vehicle, as described in Sections 19-2-301 through 19-2-304.
(3) The department may: (a) establish an application fee for a grant from the fund by following the procedures and requirements of Section 63J-1-504; and (b) reimburse itself for the costs incurred in administering the fund from: (i) the fund; or (ii) application fees established under Subsection (3)(a).
(a) establish an application fee for a grant from the fund by following the procedures and requirements of Section 63J-1-504; and
(b) reimburse itself for the costs incurred in administering the fund from: (i) the fund; or (ii) application fees established under Subsection (3)(a).
(i) the fund; or
(ii) application fees established under Subsection (3)(a).
(4) (a) The fund balance may not exceed $10,000,000. (b) Interest on cash balances in excess of the amount necessary to maintain the fund balance at $10,000,000 shall be deposited into the General Fund.
(a) The fund balance may not exceed $10,000,000.
(b) Interest on cash balances in excess of the amount necessary to maintain the fund balance at $10,000,000 shall be deposited into the General Fund.
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