90-4-619. Grandfathering -- retention of funds. (1) The department of environmental quality shall retain federal American Recovery and Reinvestment Act funds allocated in accordance with Chapter 478, Laws of 2009, to the state energy building conservation program, including:

(a) transfers after July 1, 2025, made by participating state agencies pursuant to 90-4-616 for the unpaid balance of projects funded with federal American Recovery and Reinvestment Act funds;

(b) interest payments pursuant to 90-4-616 on projects funded with federal American Recovery and Reinvestment Act funds; and

(c) interest earned on short-term investment pool investments of federal American Recovery and Reinvestment Act funds.

(2) The department of environmental quality may use the funds for activities consistent with applicable federal requirements and in accordance with guidance provided by the federal department of energy for the repurposing of funds.