§ 9-1605.1. Maryland Drinking Water Revolving Loan Fund
West's Annotated Code of MarylandEnvironmentEffective: July 1, 2022
Effective: July 1, 2022
MD Code, Environment, § 9-1605.1
§ 9-1605.1. Maryland Drinking Water Revolving Loan Fund
(a)(1) There is a Maryland Drinking Water Revolving Loan Fund. The Drinking Water Loan Fund shall be maintained and administered by the Administration in accordance with the provisions of this subtitle and such rules or program directives as the Secretary or the Board may from time to time prescribe.
(2) The Drinking Water Loan Fund is a special, continuing, nonlapsing fund which is not subject to § 7-302 of the State Finance and Procurement Article and which shall be available in perpetuity for the purpose of providing financial assistance in accordance with the provisions of this subtitle and the federal Safe Drinking Water Act.1
(4)(i) Except as provided in subparagraph (ii) of this paragraph, and subject to the provisions of any applicable bond resolution governing the investment of amounts in the Drinking Water Loan Fund, the Drinking Water Loan Fund shall be invested and reinvested in the same manner as other State funds.
(b) There shall be deposited in the Drinking Water Loan Fund:
(3) Payments received from borrowers for deposit to the Drinking Water Loan Fund in repayment of a loan, including amounts withheld by the State Comptroller and paid to the Administration pursuant to a pledge made by a borrower under § 9-1606(d) of this subtitle or § 7-222 of the State Finance and Procurement Article;
(c)(1) The Administration may establish accounts and subaccounts within the Drinking Water Loan Fund to:
(iii) The technical assistance subaccount may be used to provide financial assistance to entities specified in subparagraph (iv) of this paragraph for the purpose of providing technical assistance to small drinking water systems, with priority given to entities providing technical assistance for small drinking water systems in disadvantaged communities or communities disproportionately burdened by environmental harms and risks, including financial assistance for:
(d) Amounts in the Drinking Water Loan Fund may be used only:
(8) For loan subsidies for disadvantaged communities as provided by the federal Safe Drinking Water Act, including but not limited to loan forgiveness, provided that such loan subsidies comply with the limitations and requirements set forth in the federal Safe Drinking Water Act and any federal appropriations or authorization acts;
(13) For any other purpose authorized for any federal funds deposited in the Drinking Water Loan Fund including, without limitation, any purpose authorized by the federal Safe Drinking Water Act, including source water protection expenditures eligible for assistance from the Drinking Water Loan Fund; and
(e) In creating an intended use plan for the Drinking Water Loan Fund, the Administration shall prioritize opportunities to provide assistance to disadvantaged communities or communities disproportionately burdened by environmental harms and risks and support innovative financing partnerships to address environmental justice issues as defined in § 1-701 of this article, including through investment in:
(f) The costs of administering the Drinking Water Loan Fund shall be paid from federal grants and awards, from bond sale proceeds, and from amounts received from borrowers pursuant to loan agreements, and may not be paid from any State money appropriated to the Drinking Water Loan Fund, except general funds of the State used to match federal grants and awards to the Drinking Water Loan Fund.
Credits
Added by Acts 1993, c. 396. Amended by Acts 1994, c. 3, §§ 1, 3, eff. Feb. 28, 1994; Acts 1997, c. 635, § 9, eff. July 1, 1997; Acts 1997, c. 636, § 9, eff. July 1, 1997; Acts 1997, c. 673, § 1, eff. June 1, 1997; Acts 1998, c. 328, § 1, eff. Oct. 1, 1998; Acts 2006, c. 44, § 6, eff. April 8, 2006; Acts 2009, c. 168, § 1, eff. April 14, 2009; Acts 2014, c. 28, § 1, eff. Oct. 1, 2014; Acts 2016, c. 49, § 1, eff. July 1, 2016; Acts 2021, c. 131, § 1, eff. July 1, 2021; Acts 2022, c. 237, § 1, eff. July 1, 2022; Acts 2022, c. 238, § 1, eff. July 1, 2022.
Footnotes
Pub.L. 93-523, July 1, 1944, c. 373, Title XIV, as added Dec. 16, 1974, 2(a), 88 Stat. 1661, codified at 42 U.S.C.A. § 300f et seq.
MD Code, Environment, § 9-1605.1, MD ENVIR § 9-1605.1
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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