Effective: September 13, 2018
Latest Legislation: House Bill 292 - 132nd General Assembly
(A) As used in this section, "federal act" means the "Small Business Liability Relief and Brownfields Revitalization Act," 115 Stat. 2356 (2002), 42 U.S.C. 9601 and 9604.
(B) There is hereby created in the state treasury the Brownfields Revolving Loan Fund. The Fund shall consist of all moneys received by the state from repayments of loans made under the terms of the federal act, and any other money transferred to the Fund. The Fund may be used to make grants and loans by the Director of Development Services. All investment earnings of the Fund shall be credited to the Fund.
(C) The Director shall administer moneys received into the Fund and comply with all requirements imposed by the federal act in administering the funds.
(D) The Director may establish a schedule of fees and charges payable by loan recipients to the Director for the administration of this section.