1. The low-carbon fuels fund is created as a special fund in the state treasury. The fund consists of all moneys transferred to the fund under section 39 -04-39. The moneys in the fund are appropriated to the commissioner on a continuing basis to distribute low-carbon fuels incentives and carbon intensity verification under this section. 2. The commissioner shall distribute low -carbon fuels incentives to ethanol production facilities for eligible capital projects that increase the efficiency of a facility and decrease the carbon intensity of the production process. Distributions of low -carbon fuels incentives to an ethanol production facility are limited to fifty percent of the cost of eligible capital projects and may not exceed: a. Three million dollars per biennium; b. Cumulative distributions of ten million dollars per facility; and c. A period of ten years beginning with the first distribution to the facility. 3. For purposes of this section, "eligible capital projects" means construction of new infrastructure or replacement of existing infrastructure for carbon dioxide capture and storage, beneficial use of carbon dioxide, energy efficiency enhancements, or ethanol yield improvements. 4. The commissioner may use up to one million dollars from the fund to contract with an entity to develop a carbon intensity verification process. 5. At least once per biennium, the commissioner shall provide a report to the legislative management regarding the status of the fund, including the revenues deposited in the fund, the low-carbon fuels incentives distributed from the fund, and the balance of the fund.
‹ Prev All North Dakota sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.