Development Authority of Jones County Receives Funds from House Bill 431 and Tri-County EMC
Posted on Dec 15, 2013 at 12:00 AM
Tri-County Electric Membership Corporation VP of Energy Services Greg Mullis presented a check for $10,000 to go towards economic development in Jones County. These funds are from unclaimed capital credits, or margins that the non-profit cooperative was unable to return to former members.
In years past, unclaimed capital credits were surrendered to the state of Georgia. However, House Bill 431 allows Georgia’s EMCs to use these funds that have been retained for five years for education, economic development and 501(c) 3 charitable organizations in EMC service areas.
“We are very excited about having the ability to use these funds locally. While we cannot use them for the cooperative’s expenses or to offset our rates, we can put them to work in the community,” says Greg Mullis, Vice President of Energy Services.
Tri-County Electric Membership Corporation is a member-owned electric cooperative serving more than 21,025 accounts in Baldwin, Bibb, Jasper, Jones, Morgan, Putnam, Twiggs and Wilkinson County. Through this statewide network, the 41 customer-owned EMCs provide electricity and related services to nearly half of Georgia’s population across 73 percent of the state’s land area.
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