§ 68308. Loan Repayment.

The Department's Groundwater Remediation Loan Program will provide loans for groundwater remediation projects that meet the priority ranking criteria in Section 68302 of these regulations until all funds in the account have been loaned or otherwise expended. All loan repayments shall require annual payments of principal and any interest, with repayment commencing not later than one year after completion of the project for which the loan is made and full amortization not later than 20 years after project completion in accordance with Water Code section 13480(b)(1)(B), and payments will be deposited in the State Revolving Fund Loan Subaccount, Clean Water Program, as administered by the State Water Resources Control Board. Loan repayments may be used by the State Water Resources Control Board to fund other projects or activities as specified by the Clean Water Program.

HISTORY

1. New section filed 6-25-2001 as an emergency; operative 6-25-2001 (Register 2001, No. 26). A Certificate of Compliance must be transmitted to OAL by 10-23-2001 or emergency language will be repealed by operation of law on the following day.

2. New section refiled 10-2-2001 as an emergency; operative 10-24-2001 (Register 2001, No. 40). A Certificate of Compliance must be transmitted to OAL by 2-21-2002 or emergency language will be repealed by operation of law on the following day.

3. New section refiled 2-13-2002 as an emergency; operative 2-13-2002 (Register 2002, No. 7). A Certificate of Compliance must be transmitted to OAL by 6-13-2002 or emergency language will be repealed by operation of law on the following day.

4. Certificate of Compliance as to 2-13-2002 order transmitted to OAL 2-28-2002 and filed 4-8-2002 (Register 2002, No. 15).

Note

Note: Authority cited: Sections 25150 and 25351.5, Health and Safety Code; and Section 79133, Water Code. Reference: Section 13480(b)(1)(B) and 79133, Water Code.