Louisiana Revised Statutes 40:2824 – Drinking Water Revolving Loan Fund
Terms Used In Louisiana Revised Statutes 40:2824
- Capitalization grant: means the assistance agreement by which the United States Environmental Protection Agency obligates and awards funds allotted to the state for the purposes of capitalizing the Drinking Water Revolving Loan Fund as well as any other monies for other purposes authorized by the federal act. See Louisiana Revised Statutes 40:2822
- Drinking Water Revolving Loan Fund: means the revolving loan fund established under this Chapter pursuant to the authority of the federal act. See Louisiana Revised Statutes 40:2822
- Federal act: means the federal Safe Drinking Water Act (Louisiana Revised Statutes 40:2822
- Intended Use Plan: means a document which describes how the state intends to use the federal capitalization grant funds, state matching funds, principal repayments, interest earnings, and any other monies associated with the Drinking Water Revolving Loan Fund Program during each year in order to meet the objectives of the federal act and further the goal of protecting public health. See Louisiana Revised Statutes 40:2822
- Loan: means a loan of money from the Drinking Water Revolving Loan Fund for eligible project costs. See Louisiana Revised Statutes 40:2822
- Set-asides: means use of a portion of the state's allotted capitalization grant funds for various project and non-project activities as authorized under the federal act. See Louisiana Revised Statutes 40:2822
A. There is hereby established the Drinking Water Revolving Loan Fund, hereinafter referred to in this Chapter as the “drinking water loan fund”, which shall be maintained and operated by the Louisiana Department of Health. Federal capitalization grants, less any set-aside amounts authorized by this Chapter, which are received by the Louisiana Department of Health, office of public health, shall be deposited into or credited to the drinking water loan fund in compliance with the terms of the grant. State matching funds, when required or otherwise made available, shall be deposited directly in or credited to the drinking water loan fund in compliance with the terms of the capitalization grant agreement.
B. The Louisiana Department of Health, office of public health, shall segregate the funds associated with the drinking water loan fund as may be required by the federal act, grant agreements, or interagency agreements. The Louisiana Department of Health shall keep any accounts associated with the drinking water loan fund separate from any accounts associated with the Clean Water State Revolving Fund authorized in La. Rev. Stat. 30:2301 et seq.
C. The Louisiana Department of Health, office of public health, is authorized to claim and utilize all set-aside funding options available under the federal act. In accordance with the Intended Use Plan, such funding set-asides shall be reserved prior to any capitalization grant funds being transferred into the drinking water loan fund.
Acts 1997, No. 480, §2, eff. June 30, 1997; Acts 2003, No. 67, §3, eff. May 28, 2003; Acts 2010, No. 296, §4, eff. June 17, 2010.