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2020 Session

Budget Amendments - SB30 (Floor Approved)

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Clean Energy Financing Program

Item 125 #1s

Item 125 #1s

First Year - FY2021 Second Year - FY2022
Commerce and Trade
Department of Mines, Minerals and Energy FY2021 ($2,000,000) FY2022 $0 GF

Language
Page 104, line 18, strike "$13,576,551" and insert "$11,576,551".

Page 104, after line 38, insert:

"D. Out of the amounts in this Item, $8,000,000 the first year from the general fund is provided to establish a revolving loan fund and a loan-loss reserve fund to incentivize new investments in renewable energy and energy efficiency by small businesses, local governments and low-income individuals within the Commonwealth of Virginia. The department shall submit specific criteria and guidelines for this program to the Governor prior to any expenditure of this appropriation."



Explanation

(This amendment adjusts funding from $10.0 million to $8.0 million GF the first year and establishes a clean energy financing program to incentivize new investments in renewable energy and energy efficiency by small businesses, local governments and low-income individuals.)