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California Law (Last Updated: March 4, 2014) |
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Health and Safety Code - HSC |
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Division 20. MISCELLANEOUS HEALTH AND SAFETY PROVISIONS |
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Chapter 6.76. Loans for Replacing, Removing, or Upgrading Underground Storage Tanks |
Section 25299.109.
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(a) The Petroleum Underground Storage Tank Financing Account is hereby created in the State Treasury. The Petroleum Underground Storage Tank Financing Account is created for both of the following purposes:
(1) Receiving federal, state, and local money.
(2) Receiving repayments of loans and interest and late fees on those accounts.
(b) Upon appropriation by the Legislature, funds in the account shall be used by the board only to make loans and grants pursuant to this chapter.
(c) The board shall annually make available not more than 33 percent of the available funds from the account for the purposes of providing grants pursuant to this chapter. Funds transferred pursuant to subdivision (e) shall not be used in calculating the maximum amount that may be made available for grant funding.
(d) Notwithstanding Section 16305.7 of the Government Code, all interest or other increments resulting from the investment of the funds in the Petroleum Underground Storage Tank Financing Account pursuant to Article 4 (commencing with Section 16470) of Chapter 3 of Part 2 of Division 4 of Title 2 of the Government Code shall be deposited in a subaccount of the Petroleum Underground Storage Tank Financing Account, and expended only pursuant to Section 25299.113.
(e) (1) The sum of eight million dollars ($8,000,000) is hereby transferred from the subaccount established in subdivision (d) to the Petroleum Underground Storage Tank Financing Account and is appropriated for the purpose of making grants and loans pursuant to this chapter in the 2008–09 and 2009–10 fiscal years.
(2) An application for grant funding pursuant to this subdivision must have been received not later than June 30, 2009.
(3) If a grant or loan from moneys transferred pursuant to this subdivision is being requested for the purpose of compliance with Enhanced Vapor Recovery Phase II regulations, then the applicant must have applied for or obtained a permit from the air quality management district by April 1, 2009, and have obtained an enforcement agreement or other binding obligation by June 30, 2009.