It is enacted by the General Assembly as follows
SECTION 1. Section 37-8-17.2 of the General Laws in Chapter 37-8 entitled "Public Buildings" is hereby amended to read as follows:
37-8-17.2. Energy conservation revolving fund. --
{ADD 37-8-17.2. Energy revolving fund. -- ADD} (a) There is hereby created
as a separate fund within the treasury the energy {DEL conservation DEL}
revolving fund which shall be administered by the general treasurer in
accordance with the same laws and fiscal procedures as the general
funds of the state. The fund shall consist of such sums as the state
may from time to time appropriate, as well as monies received from the
federal government, gifts, bequests, donations, utility provided
subsidies, or otherwise from any public or private source, which
monies are intended to implement and encourage energy {DEL conservation DEL}
{ADD efficiency ADD} and cost reduction measures in state {ADD and municipal ADD}
owned and leased facilities {ADD or alternative fuel vehicles ADD} .
(b) All moneys placed in the energy {DEL conservation DEL} revolving
fund shall be made available to make loans {DEL or grants DEL} for the
{ADD purchase of or lease of alternative fuel vehicles the ADD}
implementation of energy conservation and energy cost reduction
measures, water conservation, and water and sewer cost reduction
measures in facilities and buildings owned or leased by the state of
Rhode Island {ADD or buildings owned by municipal governments. This
funding will become available to municipal governments on January 1,
1999 ADD} .
(c) Loans made under the provisions of this section may be made
directly, or in cooperation with other lenders or any agency,
department, or bureau of the federal government or state of Rhode
Island. The proceeds from the repayment of any loans made for that
purpose shall be deposited in and returned to the energy
{DEL conservation DEL} revolving fund, to constitute a continuing revolving
fund for the purposes listed above.
(d) The {ADD Rhode Island state ADD} {DEL statewide DEL} energy
{DEL conservation DEL} office of the Rhode Island department of
administration shall adopt rules and regulations consistent with the
purposes of this chapter and chapter 35 of title 42, administrative
procedures, which provide for an orderly and equitable disbursement
and repayment of funds.
SECTION 2. This act shall take effect upon passage.
