Conversion to Alternative Fuel Grant Program Fund -- Contents -- Grants made with fund money

(1) (a) There is created an expendable special revenue fund known as the "Conversion to Alternative Fuel Grant Program Fund." (b) The fund consists of: (i) appropriations to the fund; (ii) other public and private contributions made under Subsection (1)(c); (iii) fees established by the department, as described in Subsection (3)(a), and deposited into the fund; and (iv) interest earnings on cash balances. (c) The department may accept contributions from other public and private sources for deposit into the fund. (2) The department may make a grant with money available in the fund to a person who installs conversion equipment on an eligible vehicle, as described in Sections 19-2-302 through 19-2-304. (3) The department may: (a) establish an application fee for a grant from the fund by following the procedures and requirements of Section 63J-1-504; and (b) reimburse the department for the costs incurred in administering the fund from: (i) the fund; or (ii) application fees established under Subsection (3)(a). (4) (a) The fund balance may not exceed $10,000,000. (b) Interest on cash balances in excess of the amount necessary to maintain the fund balance at $10,000,000 shall be deposited into the General Fund.