§ 1005a - Agency of natural resources; hydroelectric escrow fund - Vermont Statutes

§ 1005a. Agency of natural resources; hydroelectric escrow fund

(a) The secretary of the agency of natural resources, with the approval of the secretary of administration, shall have the authority to enter into one or more written contracts with persons or entities to fund certifications under section 401 of the federal Clean Water Act and state reviews and comments on Federal Energy Regulatory Commission (FERC) hydroelectric licensing as undertaken by or at the direction of the agency of natural resources as the state's agent under section 1004 of this title. Funding provided under this section for such studies shall not exceed $300,000.00 in the aggregate in any fiscal year. Such contracts shall establish mutually agreed upon study budgets, provide a means for tracking costs as they are incurred by the agency in conducting the studies, establish a procedure for rendering periodic billings to the persons or entities contracting with the agency for the payment of such costs, and provide for an annual accounting of all such expenditures through the annual state budget process. The term of any such contract may not exceed three years. The agency of natural resources may enter into one or more contracts with more than one person or entity providing for payment of such costs through an agent, provided such agent is mutually agreed upon by the participating persons or entities and the agency.

(b) All payments made to the agency under such contracts shall be deposited into a special escrow fund created by the persons or entities with whom the agency has contracted, to be known as the hydroelectric licensing fund. All unencumbered balances in the fund at the end of any fiscal year shall revert to the persons or entities contracted with on a prorated basis. Disbursements from the fund shall be made to the agency of natural resources to support those programs of the agency of natural resources incurring the costs of conducting the studies. (Added 1997, No. 59, § 39a, eff. June 30, 1997.)