2943 amends the Water Code to clarify the state water pollution control revolving fund’s purpose as being the provision of financial assistance to persons for projects eligible for assistance under certain provisions of the Federal Water Pollution Control Act, including water quality control projects provided by the bill.
The bill requires the Texas Water Development Board (TWDB), in conjunction with or separate from the account in the revolving fund for nonpoint source pollution control and abatement projects, by rule to establish a program to promote the acquisition by eligible applicants of conservation easements and requires TWDB to adopt the rules not later than January 1, 2018.
The bill changes the time frame by which a loan is to be fully amortized from not later than 20 years after completion of the treatment works to not later than the expiration date of the term of the loan.
The bill requires certain projects financed through the revolving fund to have a demonstrable impact on water quality control, as determined by TWDB.
Amends Section 15.601(a), Water Code, as follows: (a) Requires that the state water pollution control revolving fund (revolving fund) be used to provide financial assistance to persons for projects eligible for assistance under Section 603(c) of the Federal Water Pollution Control Act (33 U.S.C.
Section 1383(c)), including nonpoint source pollution control and abatement and water quality control projects described by Sections 15.603(h) (relating to a revolving fund for providing financial assistance to persons for nonpoint source pollution control and abatement projects) and (h-1) of this code (Water Code), in accordance with the capitalization grant program established under the Federal Water Pollution Control Act (33 U.S.C.
(1) to make loans on the conditions that: (A) the loan is made at or below market interest rates, including an interest-free loan, at a term not to exceed the lesser of 30 years or the projected useful life, as determined by TWDB, of the project to be financed with the proceeds of the loan, rather than those loans are made at or below market interest rates, including interest-free loans, at terms not to exceed 20 years; (B) principal and interest payments will begin not later than one year after completion of the project to be financed with the proceeds of the loan and the loan will be fully amortized not later than the expiration date of the term of the loan, rather than not later than one year after completion of any treatment works and all loans will be fully amortized not later than 20 years after completion of the treatment works; (C) and (D) makes no changes to these paragraphs; (2) through (7) makes no changes to these subdivisions; (8) to provide financial assistance to persons for a nonpoint source pollution control or water quality control project under Section 319 of the federal act or Section 15.603(h) or (h-1) of this code, rather than for a nonpoint source pollution control project under Section 319 of the federal act or for an estuary management project under Section 320 of the federal act; and (9) and (10) makes no changes to these subdivisions.
(c) Requires that a project financed through the revolving fund, other than a project authorized under Section 603(c)(1), (5), or (11) of the federal act (33 U.S.C.
Amends Section 17.0821(c), Water Code, to require TWDB to use the revolving fund in accordance with Section 15.604(a)(4), rather than Section 15.604(4), of this code and the Federal Water Pollution Control Act, Section 603(d)(4), as a source of revenue to be deposited in accordance with this chapter for certain payments.
Requires TWDB to adopt rules under Section 15.603(h-1), Water Code, as added by this Act, not later than January 1, 2018.