(a) There is established as a special fund the DDOT Stormwater Retention Credit Fund (“Fund”), which shall be administered by the Director in accordance with subsection (c) of this section.
(b) Revenue from the following sources shall be deposited in the Fund:
(1) Revenue received directly from the sale of a Stormwater Retention Credit (“SRC”) by the Director;
(2) Revenue received through lease of District property or public space by the Department for the purpose of generating or selling a SRC;
(3) Revenue received through the lease of a stormwater best management practice on District property or public space by the Department for the purpose of generating or selling a SRC;
(4) Revenue received from a third-party intermediary in exchange for giving the third-party intermediary the authority to sell, or broker the sale of, a SRC generated on District property or public space under the control of the Department; and
(5) Revenue received by the Department pursuant to a contract for the installation and maintenance of a stormwater best management practice on property or public space under the control of the Department.
(c)(1) Money in the Fund shall be used for the following purposes:
(A) To fulfill or exceed the District’s obligations pursuant to the MS4 Permit; and
(B) To install, operate, and maintain stormwater retention projects regulated by the District’s MS4 Permit.
(2) The Director may sell a SRC generated on District property or public space under the control of the Department, upon the certification of the SRC by the District Department of the Environment.
(d)(1) The money deposited into the Fund, and interest earned, shall not revert to the unrestricted fund balance of the General Fund of the District of Columbia at the end of a fiscal year, or at any other time.
(2) Subject to authorization in an approved budget and financial plan, any funds appropriated in the Fund shall be continually available without regard to fiscal year limitation.
(e) The Director shall publish on the Department’s website, at least annually, a report describing how money in the Fund has been spent, including the following information:
(1) The total amount of SRC payments deposited in the Fund to date;
(2) The total amount of money spent from the Fund to date;
(3) For each sub-drainage area or watershed, the aggregate values of SRC purchased per year; and
(4) For each of the stormwater best management practices installed using money from the Fund, the type of stormwater best management practice used by the facility, the number of gallons of stormwater retained by the facility, the sub-drainage or watershed location of the facility, and a summary of the capital and maintenance costs of the project.
(f) For the purposes of this section, the term:
(1) “MS4 Permit” shall have the same meaning as provided in § 8-151.01(15).
(2) “Stormwater best management practice” shall have the same meaning as provided in § 8-151.01(14).
(3) “Stormwater Retention Credit” shall have the same meaning as provided in 21 DCMR § 599.
For temporary (90 days) addition of this section, see § 6132 of the Fiscal Year 2016 Budget Support Emergency Act of 2015 (D.C. Act 21-127, July 27, 2015, 62 DCR 10201).