<br><br> <br>Page 1 of 1 <br>42.584 Bluegrass turns green public sector grant fund -- Purpose -- Eligibility -- <br>Payback period -- Administrative regulations. <br>(1) (a) The bluegrass turns green public sector grant fund is created as a trust and <br>agency fund. The fund shall be administered by the cabinet and shall consist <br>of: <br>1. <br>Proceeds from grants, contributions, appropriations, or other moneys <br>made available for purposes of the trust and agency fund; and <br>2. <br>Funds derived from the bond issuance authorized under 2008 Ky. Acts <br>ch. 139, sec. 27. <br>(b) Notwithstanding KRS 45.229, fund amounts not expended at the close of the <br>fiscal year shall not lapse but shall be carried forward to the next fiscal year. <br>Any interest earnings of the trust and agency fund shall become part of the <br>trust and agency fund and shall not lapse. <br>(2) Trust and agency fund moneys shall be used by the cabinet to provide grants to the <br>public sector for engineered demand-side management projects in public sector <br>buildings. The cabinet shall not award more than one (1) grant per public university <br>campus or public community college campus within an eighteen (18) month period. <br>(3) To be eligible for a grant under this section, the cost of a proposed engineered <br>demand-side management project shall be at least five thousand dollars ($5,000) <br>and shall not exceed one million five hundred thousand dollars ($1,500,000) per <br>project. <br>(4) Beginning July 1, 2009, and ending June 30, 2013, the simple payback period for an <br>approved engineered demand-side management project shall be no more than five <br>(5) years. Beginning July 1, 2013, the cabinet may consider a simple payback period <br>of no more than twelve (12) years. <br>(5) Moneys in the grant fund are hereby appropriated for the purposes set forth in <br>subsection (2) of this section. <br>(6) The cabinet shall not approve an applicant for a grant under this section, unless the <br>applicant: <br>(a) Agrees to undergo and pay for an energy audit to establish a baseline of <br>energy consumption; and <br>(b) Meets all the requirements established in this section and any regulations <br>promulgated thereunder. <br>Effective: February 25, 2010 <br>History: Repealed and reenacted 2010 Ky. Acts ch. 5, sec. 22, effective February 25, <br>2010. -- Created 2008 Ky. Acts ch. 139, sec. 23, effective July 15, 2008. <br>Legislative Research Commission Note (2/25/2010). 2010 Ky. Acts ch. 5, sec. 28, <br>provides that the repeal and reenactment of this section in that Act "shall apply <br>retroactively to July 15, 2008." <br><br>