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Iowa Code Title V. Agriculture [Chs. 159-215A] § 159A.16. Renewable fuel infrastructure fund

Current as of January 01, 2024 | Updated by Findlaw Staff

1. A renewable fuel infrastructure fund is created in the state treasury under the control of the department. The infrastructure fund is separate from the general fund of the state.

2. The renewable fuel infrastructure fund is composed of moneys appropriated by the general assembly and moneys available to and obtained or accepted by the department from the United States government or private sources for placement in the infrastructure fund.

3. Moneys in the renewable fuel infrastructure fund are appropriated to the department exclusively to support and market the renewable fuel infrastructure programs as provided in sections 159A.14 and 159A.15, and as allocated in financial incentives by the renewable fuel infrastructure board created in section 159A.13.

a. For each fiscal year, not more than one million two hundred fifty thousand dollars shall be allocated to support the renewable fuel infrastructure program for retail motor fuel sites as provided in section 159A.14 to finance the installation, replacement, or conversion of biodiesel infrastructure as provided in that section.

b. For each fiscal year, not more than one hundred thousand dollars shall be allocated to the department to support the administration of the programs.

c. For each fiscal year, the department may use up to three-quarters of one percent of the program funds to market the programs. Otherwise the moneys shall not be transferred, used, obligated, appropriated, or otherwise encumbered except to allocate as financial incentives under the programs.

4. a. The recapture of awards or penalties, or other repayments of moneys originating from the renewable fuel infrastructure fund shall be deposited into the infrastructure fund.

b. Notwithstanding section 12C.7, interest or earnings on moneys in the infrastructure fund shall be credited to the infrastructure fund.

c. Notwithstanding section 8.33, unencumbered and unobligated moneys remaining in the infrastructure fund at the close of each fiscal year shall not revert but shall remain available in the infrastructure fund.

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Cite this article: FindLaw.com - Iowa Code Title V. Agriculture [Chs. 159-215A] § 159A.16. Renewable fuel infrastructure fund - last updated January 01, 2024 | https://codes.findlaw.com/ia/title-v-agriculture-chs-159-215a/ia-code-sect-159a-16/

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