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Session Laws, 2007
Volume 803, Page 1115   View pdf image
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Martin O'Malley, Governor
Ch. 119
(2) The Treasurer shall hold the Fund separately and the Comptroller
shall account for the Fund. (e) The Fund consists of: (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) (I) [The] IN ACCORDANCE WITH PARAGRAPH (2) OF THIS
SUBSECTION subject to subparagraph (ii) of this paragraph. THE Fund
may be used only to make loans and grants to support the creation of new Tier 1 AND
TIER 3 renewable [energy] sources in the State. (2) Compliance fees paid under § 7-705 of this subtitle; (I) for a shortfall in the requirements for tier 1
renewable resources or tier 2 renewable sources, may be used only
to make loans and grants to support the creation of new tier 1
renewable sources in the state; and (H) for a shortfall in the requirements for tier 3
renewable sources, may be used only to make loans and grants to
support the creation of new tier 3 renewable sources in the state. (II) Compliance fees paid under § 7-705(b)(1)(ii) of this subtitle shall be accounted for separately within the fund and may
be used only to make loans and grants to support the creation of
new solar energy sources in the state. [(2)](3) By regulation the Commission shall adopt eligibility criteria
for projects supported by the Fund. [(3)]](4) (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.
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Session Laws, 2007
Volume 803, Page 1115   View pdf image
 Jump to  
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