Code of the District of Columbia

§ 8–173.26. Green Finance Authority Fund.

(a) There is established as a special fund the Green Finance Authority Fund ("Fund"), which shall be administered by the Authority in accordance with subsections (c) and (d) of this section.

(b) Revenue from the following sources shall be deposited into the Fund:

(1) Appropriated funds, which shall include a transfer of $7 million from the Renewable Energy Development Fund, established in § 34-1436, in Fiscal Years 2018, 2019, 2020, 2021, and 2022, if such transfers are included in an approved budget and financial plan:

(2) Federal funds;

(3) Pursuant to § 8-173.41, grants, fees, donations, or gifts from public or private sources, subject to approval by the Board;

(4) Proceeds from any proceeding, settlement, or contract in which the District is a party and the funds have been assigned to the Authority;

(5) Repayments of principal and interest on loans provided from the Fund;

(6) Interest earned from the deposit or investment of monies from the Fund; and

(7) All revenues, receipts, and fees of whatever source derived from the operation of the Fund.

(c) Money in the Fund shall be used for all purposes related to the mission and operation of the Authority; provided, that money transferred from the Renewable Energy Development Fund pursuant to subsection (b)(1) of this section shall be used only to support sustainable projects and programs that include support for the creation of new solar energy sources in the District, and any associated administrative costs.

(d)(1) The money deposited into the Fund 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 for the uses and purposes set forth in this chapter without regard to fiscal year limitation.


(Aug. 22, 2018, D.C. Law 22-155, § 206, 65 DCR 7159.)