CODE OF VIRGINIA

ALTERNATIVE FUEL VEHICLE CONVERSION FUND ESTABLISHED (§ 2.2-1176.1)

There is hereby created in the state treasury a special nonreverting fund to be
known as the Alternative Fuel Vehicle Conversion Fund, hereinafter referred to
as “the Fund.” The Fund shall be established on the books of the
Comptroller. The Fund shall consist of such moneys appropriated by the General
Assembly and any other funds available from donations, grants, in-kind
contributions, and other funds as may be received for the purposes stated
herein. Interest earned on moneys in the Fund shall remain in the Fund and be
credited to it. Any moneys remaining in the Fund, including interest thereon, at
the end of each fiscal year shall not revert to the general fund but shall
remain in the Fund. Moneys in the Fund shall be used solely for the purposes of
assisting agencies of the Commonwealth with the incremental cost of state-owned
alternative fuel vehicles and local government and agencies thereof and local
school divisions with the incremental cost of such local government-owned
alternative fuel vehicles. Moneys in the Fund may be used in conjunction with or
as matching funds for any eligible federal grants for the same purpose.
Expenditures and disbursements from the Fund shall be made by the State
Treasurer on warrants issued by the Comptroller upon written request signed by
the Director.As used in this section, “incremental cost” means the
entire cost of a certified conversion of an existing vehicle to use at least one
alternative fuel or the additional cost of purchasing a new vehicle equipped to
operate on at least one alternative fuel over the normal cost of a similar
vehicle equipped to operate on a conventional fuel such as gasoline or diesel
fuel.The Director, in consultation with the Director of the Department of Mines,
Minerals and Energy, shall establish guidelines for contributions and
reimbursements from the Fund for the purchase or conversion of state-owned or
local government-owned vehicles.

HISTORY: 2012, cc. 199, 531; 2014, c. 199.