ROBERT L. EHRLICH, JR., Governor                             Ch. 488

(1)      COMPLIANCE FEES PAID UNDER § 7-705 OF THIS SUBTITLE;

(2)      PAYMENTS RECEIVED IN REPAYMENT OF A LOAN;

(3)      INVESTMENT EARNINGS OF THE FUND; AND

(4)      ANY OTHER MONEY FROM ANY OTHER SOURCE ACCEPTED FOR THE
BENEFIT OF THE FUND.

(F)     (1) THE FUND MAY BE USED ONLY TO MAKE LOANS AND GRANTS TO
SUPPORT THE CREATION OF NEW TIER 1 RENEWABLE ENERGY SOURCES IN THE
STATE.

(2)      BY REGULATION THE COMMISSION SHALL ADOPT ELIGIBILITY
CRITERIA FOR PROJECTS SUPPORTED BY THE FUND.

(3)      (I) THE ADMINISTRATION SHALL RECEIVE AND REVIEW
APPLICATIONS FOR LOANS AND GRANTS FOR ELIGIBLE PROJECTS.

(II) THE ADMINISTRATION SHALL APPROVE OR DISAPPROVE
APPLICATIONS FOR LOANS AND GRANTS FROM THE FUND.

(4)      (I) SUBJECT TO SUBPARAGRAPH (II) OF THIS PARAGRAPH, THE
COMMISSION MAY ALLOW THE USE OF MONEY OF THE FUND FOR ADMINISTRATIVE
EXPENSES RELATED TO THE FUND AND PROJECT REVIEW AND OVERSIGHT.

(II) THE ADMINISTRATION AND THE COMMISSION MAY NOT SPEND
MORE THAN 10% OF THE FUNDS PLACED IN THE FUND FOR ADMINISTRATIVE
EXPENSES.

(G)     (1) THE TREASURER SHALL INVEST THE MONEY OF THE FUND IN THE
SAME MANNER AS OTHER STATE MONEY MAY BE INVESTED.

(2) ANY INVESTMENT EARNINGS OF THE FUND SHALL BE CREDITED TO
THE FUND.

7-708.

(A)     (1) THE COMMISSION SHALL ESTABLISH AND MAINTAIN A
MARKET-BASED RENEWABLE ELECTRICITY TRADING SYSTEM TO FACILITATE THE
CREATION AND TRANSFER OF RENEWABLE ENERGY CREDITS.

(2)      TO THE EXTENT PRACTICABLE, THE TRADING SYSTEM SHALL BE
CONSISTENT WITH AND OPERATE IN CONJUNCTION WITH THE TRADING SYSTEM
DEVELOPED BY PJM INTERCONNECTION, INC., IF AVAILABLE.

(3)     THE COMMISSION MAY CONTRACT WITH A FOR-PROFIT OR A
NONPROFIT ENTITY TO ASSIST IN THE ADMINISTRATION OF THE ELECTRICITY
TRADING SYSTEM REQUIRED UNDER PARAGRAPH (1) OF THIS SUBSECTION.

(B)     (1) THE SYSTEM SHALL INCLUDE A REGISTRY OF PERTINENT
INFORMATION REGARDING ALL:

(I) AVAILABLE RENEWABLE ENERGY CREDITS; AND
- 2291 -