Today's Law As Amended


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AB-21 Safe Drinking Water Small Community Emergency Grant Fund.(2013-2014)



As Amends the Law Today
As Amends the Law on Nov 25, 2013


SECTION 1.

 Section 116760.46 is added to the Health and Safety Code, to read:

116760.46.
 (a) The Safe Drinking Water Small Community Emergency Grant Fund is hereby created in the State Treasury.
(b) The following moneys shall be deposited in the grant fund:
(1) Moneys transferred to the grant fund pursuant to subdivision (c).
(2) Notwithstanding Section 16475 of the Government Code, any interest earned upon the moneys deposited in the grant fund.
(c) (1) For any loans made for projects meeting the eligibility criteria under Section 116760.50, the department may assess an annual charge to be deposited in the grant fund in lieu of interest that would otherwise be charged.
(2) Any amounts collected under this subdivision shall be deposited in the grant fund. Not more than fifty million dollars ($50,000,000) shall be deposited in the grant fund.
(3) The charge authorized by this subdivision may be applied at any time during the term of the financing and, once applied, shall remain unchanged.
(4) The charge authorized by this subdivision shall not increase the financing repayment amount, as set forth in the terms and conditions imposed pursuant to this chapter.
(d) (1) Moneys in the grant fund may be expended on grants for projects that meet the requirements stated in Section 116475 and that serve disadvantaged and severely disadvantaged communities.
(2) For the purpose of approving grants, the department shall give priority to projects that serve severely disadvantaged communities.
(3) Funds expended pursuant to this section shall be expended in a manner consistent with the federal EPA grant regulations established in Section 35.3530(b)(2) of Title 40 of the Code of Federal Regulations.