Vermont § 4753 - Revolving loan funds; authority to spend; report

§ 4753. Revolving loan funds; authority to spend; report

• (a) There is hereby established a series of special funds to be known as: (1) The Vermont Environmental Protection Agency (EPA) Pollution Control Revolving Fund,
  which shall be used, consistent with federal law, to provide loans for planning and
  construction of clean water projects, including acquisitions of project-related easements,
  land, options to purchase land, and temporary or permanent rights-of-way, and for
  implementing related management programs. (2) The Vermont Pollution Control Revolving Fund, which shall be used to provide loans
  to municipalities and State agencies for planning and construction of clean water
  projects, including acquisitions of project-related easements, land, options to purchase
  land, and temporary or permanent rights-of-way. (3) The Vermont Environmental Protection Agency (EPA) Drinking Water State Revolving Fund,
  which shall be used to provide loans to municipalities and certain privately owned
  water systems for: (A) planning, designing, constructing, repairing, or improving public water supply systems,
  including acquisitions of project-related easements, land, options to purchase land,
  and temporary or permanent rights-of-way, in order to comply with State and federal
  standards and protect public health and the environment; and (B) implementing related management programs. (4) The Vermont Solid Waste Revolving Fund, which shall be used to provide loans to municipalities,
  including union municipal districts formed under chapter 121, subchapter 3 of this
  title, for planning solid waste handling and disposal facilities as enumerated in
  section 2203a of this title, and for constructing publicly owned solid waste handling and disposal facilities
  as enumerated in section 2203a of this title. (5) The Vermont Drinking Water Planning Loan Fund, which shall be used to provide loans
  to municipalities and privately owned, nonprofit community water systems, for conducting
  feasibility studies and for the preparation of preliminary engineering planning studies
  and final engineering plans and specifications for improvements to public water supply
  systems in order to comply with State and federal standards and to protect public
  health. The Secretary may forgive up to $50,000.00 of the unpaid balance of a loan
  made from the Vermont Drinking Water Planning Loan Fund to municipalities after project
  construction is substantially completed or upon approval of a plan. The Secretary
  shall establish amounts, eligibility, policies, and procedures for loan forgiveness
  in the annual State Intended Use Plan (IUP), as required by the Safe Drinking Water
  Act, 42 U.S.C. § 300f et seq., with public review and comment prior to finalization and submission to the
  U.S. Environmental Protection Agency. (6) The Vermont Drinking Water Source Protection Fund, which shall be used to provide
  loans to municipalities for purchasing land or conservation easements in order to
  protect public water sources and ensure compliance with State and federal drinking
  water regulations. (7) The Vermont Drinking Water Emergency Use Fund, which shall be within the control of
  the Secretary. Disbursements from the Fund may be made by the Secretary for costs
  required to undertake the following emergency actions that the Secretary considers
  necessary to protect public health: (A) collecting and analyzing samples of drinking water; (B) hiring contractors to perform or cause to be performed infrastructure repairs of public
  water supply systems; (C) hiring certified operators to perform operational activities at public water supply
  systems; and (D) providing or causing to be provided bottled or bulk water for public water supply
  systems due to problems with quality or quantity, or both. (8) [Repealed.] (9) The Vermont Drinking Water Revolving Loan Fund, which shall be used to provide loans
  to a municipality for the design, land acquisition, if necessary, and construction
  of a potable water supply when a household in the municipality has been disconnected
  involuntarily from a public water supply system for reasons other than nonpayment
  of fees. (10) The Vermont Wastewater and Potable Water Revolving Loan Fund, which shall be used
  to provide loans to individuals, in accordance with section 4763b of this title, for the design and construction of repairs to or replacement of wastewater systems
  and potable water supplies when the wastewater system or potable water supply is a
  failed system or supply as defined in 10 V.S.A. § 1972, or when a designer demonstrates that the wastewater system or potable water supply
  has a high probability of failing. The amount of up to $275,000.00 from the fees collected
  pursuant to 3 V.S.A. § 2822(j)(4) or from the Fund established in subdivision (1) of this subsection, or a combination
  of both, shall be deposited into this Fund at the beginning of each fiscal year to
  ensure a minimum balance of available funds of $275,000.00 exists for each fiscal
  year. (b)(1) Each of such funds shall be established and held separate and apart from any other
  funds or monies of the State and shall be used and administered exclusively for the
  purpose of this chapter with the exception of transferring funds from the Vermont
  Drinking Water Planning Loan Fund and the Vermont Drinking Water Source Protection
  Fund to the Vermont Environmental Protection Agency (EPA) Drinking Water State Revolving
  Fund, and from the Vermont Pollution Control Revolving Fund to the Vermont Environmental
  Protection Agency (EPA) Pollution Control Revolving Fund, when authorized by the Secretary. (2) These funds shall be administered by the Bond Bank on behalf of the State, except
  that: (A) the Vermont EPA Drinking Water State Revolving Fund and the Vermont Drinking Water
  Planning Loan Fund shall be administered by VEDA concerning loans to privately owned
  public water systems in accordance with subchapter 3 of this chapter; (B) the Vermont Environmental Protection Agency (EPA) Pollution Control Revolving Fund
  shall be administered by VEDA concerning loans to private entities for clean water
  projects in accordance with subchapter 4 of this chapter; and (C) the Vermont Environmental Protection Agency (EPA) Pollution Control Revolving Fund
  and the Vermont Wastewater and Potable Water Revolving Loan Fund may be administered
  by a community development financial institution, as that term is defined in 12 U.S.C. § 4702, that is contracted with by the State for the purpose of providing loans to individuals
  in accordance with section 4763b of this chapter. (3) The funds shall be invested in the same manner as permitted for investment of funds
  belonging to the State or held in the Treasury. (4) The funds shall consist of the following: (A) such sums as may be appropriated or transferred thereto from time to time by the General
  Assembly, the State Emergency Board, or the Joint Fiscal Committee during such times
  as the General Assembly is not in session; (B) principal and interest received from the repayment of loans made from each of such
  funds; (C) capitalization grants and awards made to the State by the United States of America
  for any of the purposes for which such funds have been established; (D) interest earned from the investment of fund balances; (E) private gifts, bequests, and donations made to the State for any of the purposes for
  which such funds have been established; and (F) other funds from any public or private source intended for use for any of the purposes
  for which such funds have been established. (c) In addition to the purposes established in subsection (a) of this section, the various
  loan funds created by this section may be used for one or more of the purposes established
  in section 4757 of this title. (d) [Repealed.] (e) The Secretary may bring an action under this subsection or other available State and
  federal laws against the owner or permittee of the public water supply systems to
  seek reimbursement to the Vermont Drinking Water Emergency Use Fund for all disbursements
  from the Fund made pursuant to subdivision (a)(7) of this section. To the extent compatible
  with the urgency of the situation, the Secretary shall provide an opportunity for
  the responsible water system owner or permittee to undertake the necessary actions
  under the direction of the Secretary prior to making disbursements. (Added 1987, No. 75, § 1; amended 1993, No. 233 (Adj. Sess.), § 62, eff. June 21, 1994; 1995, No. 62, § 44, eff. April 26, 1995; 1997, No. 62, § 67, eff. June 26, 1997; 1997, No. 134 (Adj. Sess.), § 1; 1997, No. 148 (Adj. Sess.), § 51, eff. April 29, 1998; 1999, No. 109 (Adj. Sess.), § 2; 1999, No. 148 (Adj. Sess.), § 52, eff. May 24, 2000; 2001, No. 61, § 38, eff. June 16, 2001; 2001, No. 109 (Adj. Sess.), § 11; eff. May 16, 2002; 2001, No. 149 (Adj. Sess.), § 90, eff. June 27, 2002; 2003, No. 63, § 50, eff. June 11, 2003; 2007, No. 52, §§ 43, 46, eff. May 28, 2007; 2007, No. 130 (Adj. Sess.), § 7, eff. May 12, 2008; 2011, No. 104 (Adj. Sess.), § 28e, eff. May 7, 2012; 2011, No. 161 (Adj. Sess.), § 13; 2013, No. 137 (Adj. Sess.), § 1, eff. May 22, 2014; 2015, No. 103 (Adj. Sess.), § 26, eff. May 12, 2016; 2015, No. 172 (Adj. Sess.), § E.709.2, eff. June 8, 2016; 2017, No. 168 (Adj. Sess.), § 21, eff. May 22, 2018; 2017, No. 185 (Adj. Sess.), § 3, eff. May 28, 2018; 2017, No. 197 (Adj. Sess.), § 20; 2019, No. 141 (Adj. Sess.), § 1, eff. July 13, 2020; 2023, No. 79, § 5, eff. July 1, 2023.)