There is established a fund designated as the Renewable Energy Development Fund, which shall be separate from the General Fund of the District of Columbia and shall be used solely for the purposes set forth in this section. All fees, payment, investment earnings, or other funds received, and all interest on the funds, shall be deposited into the Fund without regard to fiscal year limitation and shall not any time be transferred to, or lapse into, or be commingled with the General Fund of the District of Columbia or any other fund or account of the District of Columbia, except as delineated in this section. The Fund shall be continually available for the uses and purposes set forth in subsection (c) of this section. The Fund established by this section shall be administered by the Energy Office. The Energy Office may receive and review applications for loans, grants, rebates, and other financial incentives for eligible projects from the Fund. The Fund shall be used solely for the purpose of making loans, grants, rebates, and other financial incentives to support the creation of new solar energy sources in the District of Columbia and for otherwise administering the Fund. The Fund may be used to supplement programs supporting the creation of new solar energy sources in the District of Columbia through the Sustainable Energy Utility contract established by Chapter 17N of Title 8 [ § 8-1773.01 et seq.]. Proceeds for the Fund shall be collected from the following: Compliance fees paid under § 34-1434 ; Payments received in repayment of a loan; Investment earnings of the Fund; and Any other money from any other source accepted for the benefit of the Fund. The Energy Office shall establish the eligibility criteria for projects supported by the Fund. The Energy Office may allow the use of money of the Fund for administrative expenses related to the Fund and project review and oversight. The DDOE shall provide to the Council a quarterly report detailing: Expenditures from the Renewable Energy Development Fund; and The performance of programs or projects funded by the Renewable Energy Development Fund. Any compliance fees paid into the Fund by an electricity supplier that were charged to the District of Columbia government through a cost recovery surcharge authorized in § 34-1435(c) shall be transferred from the Fund to the General Fund of the District of Columbia and used to cover any surcharge owed by the District of Columbia government.
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