Section 3706.59 | Insufficient funds.
(A) If the money in the nuclear generation fund is insufficient in a particular quarter to make the payments in the amount required under division (A)(1) of section 3706.55 of the Revised Code, then the Ohio air quality development authority shall, not later than twenty-one days after the close of any quarter in which the owner or operator was not fully compensated, direct the treasurer of state to remit money from the nuclear generation fund to pay for the unpaid credits.
(B) If the money in the renewable generation fund is insufficient to make the payments in the amounts required under division (A)(2) of section 3706.55 of the Revised Code for all owners and operators of qualifying renewable resources, then the authority shall do both of the following:
(1) Not later than twenty-one days after the close of the quarter in which the charges collected were insufficient, direct the treasurer to prorate payments from the total amount available in the renewable generation fund, based on the number of each resource's credits earned during the quarter that ended twelve months prior to the last day of the previous quarter;
(2) Not later than twenty-one days after the close of any quarter in which the owners or operators received prorated payments under division (B)(1) of this section, direct the treasurer of state to remit money from the renewable generation fund to pay for the unpaid credits. Unpaid credits paid for under division (B)(2) of this section shall be paid before any other remittances are made under division (A)(2) of section 3706.55 of the Revised Code.
Available Versions of this Section
- October 22, 2019 – Enacted by House Bill 6 - 133rd General Assembly [ View October 22, 2019 Version ]
- June 30, 2021 – Amended by House Bill 128 - 134th General Assembly [ View June 30, 2021 Version ]