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The Vermont Statutes Online

 

Title 10 : Conservation and Development

Chapter 012 : VERMONT ECONOMIC DEVELOPMENT AUTHORITY

Subchapter 013 : VERMONT SUSTAINABLE ENERGY LOAN FUND

(Cite as: 10 V.S.A. § 280dd)
  • § 280dd. Loan programs administered within the Fund

    (a) The Fund shall consist of:

    (1) Existing sustainable energy loans made by the Authority, the Vermont Small Business Development Corporation, and the Vermont Agricultural Credit Corporation.

    (2) Sustainable energy loans originated under the following programs:

    (A) The Small Business Energy Efficiency Loan Program, under which the Authority provides loans for qualifying commercial energy efficiency improvements.

    (B) The Renewable Energy Loan Program, which the Authority may create to provide loans for qualifying renewable energy projects.

    (C) The Agricultural Energy Loan Program, which the Authority may create to provide loans for qualifying agriculture- and forest product-based sustainable energy projects.

    (D) The Energy Efficiency Loan Guarantee Program, which the Authority may create to provide loan guarantees to participating lending institutions that enroll loans for sustainable energy projects in the Program.

    (3) Programs created by the Authority pursuant to subsection (c) of this section.

    (b) The Fund shall be administered by the Authority and shall not be subject to 32 V.S.A. chapter 7, subchapter 5.

    (c) The Authority may establish:

    (1) New financing programs that the Authority determines are necessary to encourage and promote sustainable energy projects and reduce reliance upon fossil fuel sources.

    (2) Policies and procedures for programs within the Fund that the Authority determines are necessary to carry out the purposes of this subchapter.

    (d) For all sustainable energy loans, the Authority shall maintain records on the projected reductions in greenhouse gas emissions and, for energy efficiency loans, the projected energy savings from the financed improvements and shall provide data on the projected greenhouse gas emissions reductions and projected energy savings to the Department of Public Service, the Public Utility Commission, and the Agency of Natural Resources on request. The methods used for calculating and reporting this data shall be the same methods used in programs delivered under 30 V.S.A. § 209(d) and (e). The data provided shall be used for the purpose of tracking progress toward the greenhouse gas reduction goals of section 578 of this title and the building efficiency goals of section 581 of this title. (Added 2013, No. 87, § 1, eff. June 17, 2013.)