Vermont § 1005a - Agency of Natural Resources; hydroelectric escrow fund

§ 1005a. Agency of Natural Resources; hydroelectric escrow fund

• (a) The Secretary 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.)