(a) There is hereby created in the State Treasury the Energy Efficient State Property Revolving Fund for the purpose of implementing this chapter. Notwithstanding Section 13340 of the Government Code, the money in this fund is continuously appropriated to the department, without regard to fiscal years, for loans for projects on state-owned buildings and facilities to achieve greater, long-term energy efficiency, energy conservation, and energy cost and use avoidance.
(b) The fund shall be administered by the department. The department may use other funding sources to leverage project loans.
(c) For the 2009–10 fiscal year, the sum of twenty-five million dollars ($25,000,000) shall be transferred into the Energy Efficient State Property Revolving Fund from money received by the commission pursuant to the act to be used for purposes of the federal State Energy Program.
(d) (1) For the 2011–12 and 2012–13 fiscal years, the commission may transfer up to fifty million dollars ($50,000,000), in total, as the commission determines to be appropriate, into the Energy Efficient State Property Revolving Fund from money received by the commission pursuant to the act to be used for the purposes of the federal State Energy Program.
(2) The commission shall provide written notice to the Controller on the amount and timing of the transfer of moneys into the fund.
(3) Subject to the limitations of paragraph (1), the commission may make multiple transfers to allow for reallocating available funds from project cancellations and project savings.
(4) Notwithstanding Section 9795 of the Government Code, the commission shall notify, in writing, the Joint Legislative Budget Committee when a transfer is made pursuant to this subdivision.
(e) The Controller shall disburse moneys in the fund for the purposes of this chapter, as authorized by the department.
(f) Moneys in the fund, including all interest earnings, shall be clearly delineated and distinctly accounted for in accordance with the requirements of the act.
(g) Pursuant to subdivision (d) of Section 25422 and subdivision (h) of Section 25464, the commission shall transfer to the Energy Efficient State Property Revolving Fund repayments of, and all accrued interest on, loans funded by the federal American Recovery and Reinvestment Act of 2009 (Public Law 111-5).
(Amended by Stats. 2015, Ch. 24, Sec. 36. (SB 83) Effective June 24, 2015.)
Last modified: October 25, 2018