NC H654

Allows state agencies to retain energy savings from utilities costs at the end of each fiscal year and carry forward the savings balance to the next fiscal year for energy conservation measures.

Permits state agencies to use retained energy savings funds only for one-time capital and operating expenditures that do not create additional financial obligations on the State.

Prohibits the Director of the Budget from reducing an agency's continuation budget requirements for utilities by the amount of energy savings realized from energy conservation measures or guaranteed energy savings contracts.

Requires state agencies to submit annual reports on the use of funds authorized under this section as part of their energy management plan reporting requirements.

Becomes effective for fiscal years beginning on or after July 1, 2013.