Conversion to Alternative Fuel Grant Program Fund -- Contents -- Grants made with fund money.
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(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.
(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).
(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.