NC H628

Allows state agencies (except UNC system) to retain General Fund credit balances from energy savings at the end of each fiscal year and carry them forward to the next year for energy conservation projects.

Restricts carried-forward energy savings funds to one-time capital and operating expenditures that do not create additional financial obligations for the State.

Prohibits the Director of the Budget from reducing continuation budget requirements for utilities based on energy savings achieved through conservation measures or guaranteed energy savings contracts.

Requires state agencies and institutions of higher learning to submit annual reports on the use of funds authorized under this section to the State Energy Office.

Effective for fiscal years beginning on or after July 1, 2015.