701A.450 - Creation; administration; interest and income; use of money; regulations. [Effective through June 30, 2049.]
701A.450 Creation; administration; interest and income; use of money; regulations. [Effective through June 30, 2049.]
1. The Renewable Energy Fund is hereby created.
2. The Nevada Energy Commissioner appointed pursuant to NRS 701.340 shall administer the Fund.
3. The interest and income earned on the money in the Fund must be credited to the Fund.
4. Not less than 75 percent of the money in the Fund must be used to offset the cost of electricity to retail customers of a public utility that is subject to the portfolio standard established by the Public Utilities Commission of Nevada pursuant to NRS 704.7821.
5. The Nevada Energy Commissioner may establish other uses of the money in the Fund by regulation.
(Added to NRS by 2009, 2009)