Bill No.: HB0066                  Drafter:  MRW

LSO No.:  08LSO-0065              Effective Date:  7/1/2008

Enrolled Act No.:  <enrnum>

Chapter No.:       <chptnum>

Prime Sponsor:     Joint Minerals, Business and Economic Development Interim Committee

Catch Title:       Revolving loan fund accounts.

Subject:  State water pollution control account.

Summary/Major Elements: 

Currently, the state is receiving federal funds for the state water pollution control revolving loan program and the state drinking water revolving loan program, including administrative.  The federal funding will be ending soon.

This act:

· Establishes an administrative account for the state water pollution control revolving loan program similar to the administrative account already in place for the state drinking water program.

· Provides for up to 4% of the federal capitalization funds, loan administration and loan application fees which are provided for the state to be set aside into an account to be used for administration of the state water pollution control revolving loan program.  This account has a biennial cap of $500,000.  Any amount over this $500,000 will be deposited into the revolving loan account.  This loan account is used by various municipalities for construction of wastewater treatment projects or for nonpoint source pollution control management programs.

· Makes conforming amendments to the state drinking water program.