KRS 42.584: Bluegrass turns green public sector grant fund -- Purpose -- Eligibility --

Payback period -- Administrative regulations.

(1) (a) The bluegrass turns green public sector grant fund is created as a trust and

agency fund. The fund shall be administered b y the cabinet and shall consist

of:

1. Proceeds from grants, contributions, appropriations, or other moneys

made available for purposes of the trust and agency fund; and

2. Funds derived from the bond issuance authorized under 2008 Ky. Acts

ch. 139, sec. 27.

(b) Notwithstanding KRS 45.229, fund amounts not expended at the close of the

fiscal year shall not lapse but shall be carried forward to the next fiscal year.

Any interest earnings of the trust and agency fund shall become part of the

trust and agency fund and shall not lapse.

(2) Trust and agency fund moneys shall be used by the cabinet to provide grants to the

public sector for engineered demand -side management projects in public sector

buildings. The cabinet shall not award more than one (1) grant pe r public university

campus or public community college campus within an eighteen (18) month period.

(3) To be eligible for a grant under this section, the cost of a proposed engineered

demand-side management project shall be at least five thousand dollars ($5,000)

and shall not exceed one million five hundred thousand dollars ($1,500,000) per

project.

(4) Beginning July 1, 2009, and ending June 30, 2013, the simple payback period for an

approved engineered demand -side management project shall be no more tha n five

(5) years. Beginning July 1, 2013, the cabinet may consider a simple payback period

of no more than twelve (12) years.

(5) Moneys in the grant fund are hereby appropriated for the purposes set forth in

subsection (2) of this section.

(6) The cabinet shall not approve an applicant for a grant under this section, unless the

applicant:

(a) Agrees to undergo and pay for an energy audit to establish a baseline of

energy consumption; and

(b) Meets all the requirements established in this section and any re gulations

promulgated thereunder.