143-58.5. Alternative Fuel Revolving Fund.
(a) The definitions set out in G.S. 143-58.4 apply to this section.
(b) The Alternative Fuel Revolving Fund is created and shall be held by the State Treasurer. The Fund shall consist of moneys received from the sale of EPAct credits under G.S. 143-58.4, any moneys appropriated to the Fund by the General Assembly, and any moneys obtained or accepted by the Department for deposit into the Fund. The Fund shall be managed to maximize benefits to the State for the purchase of alternative fuel, related refueling infrastructure, and AFV purchases. To the extent possible, benefits from the sale of EPAct credit shall be distributed to State departments, institutions, and agencies in proportion to the number of EPAct credits generated by each. No portion of the Fund shall be transferred to the General Fund, and any appropriation made to the Fund shall not revert. The State Treasurer shall invest moneys in the Fund in the same manner as other funds are invested. Interest and moneys earned on such investments shall be credited to the Fund.
(c) The Fund shall be used to offset the incremental fuel cost of biodiesel and biodiesel blend fuel with a minimum biodiesel concentration of B-20 for use in State vehicles, for the purchase of ethanol fuel with a minimum ethanol concentration of E-85 for use in State vehicles, the incremental vehicle cost of purchasing AFVs, for the development of related refueling infrastructure, for the costs of administering the Fund, and for projects approved by the Energy Policy Council.
(d) The Secretary of Environmental Quality shall adopt rules as necessary to implement this section.
(e) The Department shall submit to the Joint Legislative Oversight Committee on Agriculture and Natural and Economic Resources and the Fiscal Research Division no later than October 1 of each year a report on the expenditures from the Fund during the preceding fiscal year. (2005-413, s. 1; 2009-237, s. 2; 2017-57, s. 14.1(a); 2017-102, s. 20.1(a).)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 143 - State Departments, Institutions, and Commissions
Article 3 - Purchases and Contracts.
§ 143-48.1 - Medicaid program exemption.
§ 143-48.2 - Procurement program for nonprofit work centers for the blind and the severely disabled.
§ 143-48.3 - Electronic procurement.
§ 143-48.4 - Statewide uniform certification of historically underutilized businesses.
§ 143-48.5 - Contractors must use E-Verify.
§ 143-48.6 - Personal services contracts subject to Article.
§ 143-49 - Powers and duties of Secretary.
§ 143-49.1 - Purchases by volunteer nonprofit fire department and lifesaving and rescue squad.
§ 143-50 - Certain contractual powers exercised by other departments transferred to Secretary.
§ 143-50.1 - Division of Purchase and Contract; Contract Management Section.
§ 143-51 - Reports to Secretary required of all agencies as to needs and purchases.
§ 143-52.1 - Award recommendations; State Purchasing Officer action.
§ 143-52.3 - Multiple award schedule contracts.
§ 143-53.1 - Setting of benchmarks; increase by Secretary.
§ 143-54 - Certification that bids were submitted without collusion.
§ 143-55 - Requisitioning by agencies; must purchase through sources certified.
§ 143-56 - Certain purchases excepted from provisions of Article.
§ 143-57 - Purchases of articles in certain emergencies.
§ 143-57.1 - Furniture requirements contracts.
§ 143-58 - Contracts contrary to provisions of Article made void.
§ 143-58.1 - Unauthorized use of public purchase or contract procedures for private benefit.
§ 143-58.2 - State policy; bid procedures and specifications; identification of products.
§ 143-58.3 - Purchase of recycled paper and paper products; goals.
§ 143-58.4 - Energy credit banking and selling program.
§ 143-58.5 - Alternative Fuel Revolving Fund.
§ 143-58.6 - Specifications for use of coal combustion products.
§ 143-58.7 - Contracts with Conservation Corps North Carolina.
§ 143-59.1 - Contracts with certain foreign vendors.
§ 143-59.1A - Preference given to products made in United States.
§ 143-59.2 - Certain vendors prohibited from contracting with State.
§ 143-59.4 - Contracts performed outside the United States.
§ 143-60 - Rules covering certain purposes.
§ 143-62 - Law applicable to printing Supreme Court Reports not affected.
§ 143-63 - Financial interest of officers in sources of supply; acceptance of bribes.