Title 19 Environmental Quality Code Chapter 1 General Provisions Section 404 Department duties -- Rulemaking -- Loan repayment.
19-1-404.Department duties -- Rulemaking -- Loan repayment.
(1) The department shall:
(a) administer the fund created in Section 19-1-403 to encourage government officials
and private sector business vehicle owners and operators to obtain and use clean fuel vehicles;
and
(b) by following the procedures and requirements of Title 63G, Chapter 3, Utah
Administrative Rulemaking Act, make rules:
(i) specifying the amount of money in the fund to be dedicated annually for grants;
(ii) limiting the amount of a grant given to any person claiming a tax credit under Section
59-7-605 or 59-10-1009 for the motor vehicle for which a grant is requested to assure that the
sum of the tax credit and grant does not exceed:
(A) 50% of the incremental cost of the OEM vehicle; or
(B) 50% of the cost of conversion equipment;
(iii) limiting the number of motor vehicles per fleet operator that may be eligible for a
grant in a year;
(iv) specifying criteria the department shall consider in prioritizing and awarding loans
and grants;
(v) specifying repayment periods;
(vi) specifying procedures for:
(A) awarding loans and grants; and
(B) collecting loans;
(vii) requiring all loan and grant applicants to:
(A) apply on forms provided by the department;
(B) agree in writing to use the clean fuel for which each vehicle is converted or
purchased using loan or grant proceeds for a minimum of 70% of the vehicle miles traveled
beginning from the time of conversion or purchase of the vehicle;
(C) agree in writing to notify the department if a vehicle converted or purchased using
loan or grant proceeds becomes inoperable through mechanical failure or accident and to pursue
a remedy outlined in department rules;
(D) provide reasonable data to the department on a vehicle converted or purchased with
loan or grant proceeds; and
(E) submit a vehicle converted or purchased with loan or grant proceeds to inspections
by the department as required in department rules and as necessary for administration of the loan
and grant program; and
(viii) specifying the criteria for awarding a state match under Subsection 19-1-403(2).
(2) (a) When developing repayment schedules for the loans, the department shall
consider the projected savings from use of the clean fuel vehicle.
(b) A repayment schedule may not exceed 10 years.
(c) The department shall make a loan from the fund for a private sector vehicle at an
interest rate equal to the annual return earned in the state treasurer's Public Treasurer's Pool as
determined the month immediately preceding the closing date of the loan.
(d) The department shall make a loan from the fund for a government vehicle with no
interest rate.
(3) The Division of Finance shall:
(a) collect and account for the loans; and
(b) have custody of all loan documents, including all notes and contracts, evidencing the
indebtedness of the fund.
Amended by Chapter 382, 2008 General Session
Download Code Section Zipped WordPerfect 19_01_040400.ZIP 3,269 Bytes