The board may enter into an agreement with the federal government for federal contributions to the subaccount if all of the following conditions have been met:
(a) The board has identified any required matching funds.
(b) The board is prepared to commit to the expenditure of any minimum amount in the subaccount in the manner required by the Clean Water Act.
(c) Any agreement between the board and the federal government is consistent with the purposes of this article.
(Added by Stats. 1999, Ch. 725, Sec. 1. Approved in Proposition 13 at the March 7, 2000, election.)