Revolving loan fund accounts.

WORKING DRAFT
2008
STATE OF
WYOMING
08LSO-0065

HOUSE BILL
NO.
HB0066

Revolving
loan fund
accou
n
ts
.

Sponsored by:
Joint Minerals, Business and Economic Development Interim Committee

A BILL

for

AN ACT relating to
intergovernmental cooperation; amending
definitions; establishing an administrative account for the
state water pollution control revolving loan
program
;
making conforming amendments;
and providing for an effective date.

Be It Enacted by the Legislature of the State of
Wyoming
:

Section 1.

W.S. 16
‑
1
‑
201(a) by creating new paragraphs (xii) and (xiii), 16
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1
‑
202(a)
and
by creating a new subsection (e), 16
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1
‑
203(b)(intro), (ii) and (iii)
and
by creating a new subsection (e), 16
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1
‑
301(a)
(iii)
and 16
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1
‑
303(d) are amended to read:

16
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1
‑
201.

Definitions.

(a)

As used in this article:

(
x
i
i
)

"Administrative a
ccount
"
means the account which may receive up to
four percent
(4%) of the federal capitalization funds, loan administration and loan application fees which are used to reimburse costs incurred by state agencies in the administration of the program, including but not limited to costs of servicing loans and issuing debt, program start-up costs, financial, ma
nagement, legal consulting fees and
costs for support services by state agencies
;

(
x
iii
)

"Office of state lands and investments" means the office
which provides administrative and operational management of programs of the state l
oan
and investment board
.

16
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1
‑
202.

Account established; state match.

(a)

There is established the state water pollution control revolving loan account. All monies received from federal capitalization grants
, exclusive of the four percent (4%) administration set-aside as authorized by
Ti
t
le VI
,
and all state matching funds shall be deposited in the account and shall be used only to provide financial assistance as authorized in this article.

(e)

A separate administrative account shall be established outside of the account for the purpose of paying administrative expenses
.

Revenue
deposited
to this account shall be limited to five hundred thousand dol
lars ($500,000.00) per
fiscal
biennium
.
Revenue in excess of the biennial cap shall be deposited into the account established in subsection (a) of this section.

16
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1
‑
203.

Account administration; board powers and duties; department powers and duties; fiscal procedures.

(b)

The
board

o
ffice of state lands and investments
shall:

(ii)

Receive
,

and
review
and make recommendations to the board for approval of
applications for financial assistance from the account
from
in accordance with the requirements established by the board for
municipalities, counties, joint powers boards, state agencies and other entities constituting a political subdivision under the laws of the state on forms supplied by the
board

office of s
t
ate lands and investments
;

(iii)

Administer the account
and the administrative account
including processing and receiving
capitalization grants, the state match, financial assistance agreements,
repayments on all financial assistance
and other account revenues
; and

(e)

The
board
, as a condition of making a loan or other financial assistance,
shall
impose a
n
administrative fee or application fee
not to exceed one percent (1.0%)
that may be paid from the proceeds of the loan, financial assistance or other available funds of the applicant. These fees
shall
be deposited into the administrative account for purposes of payment of administrati
ve
costs of the program
.

16
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1
‑
301.

Definitions.

(a)

As used in this article:

(iii)

"Board" means the state loan and investment board
;
to include the office of state lands and investments;

16
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1
‑
303.

Account administration; board powers and duties; department powers and duties; water development office powers and duties; fiscal procedures.

(d)

The
board,
as a condition to making a loan or other financial assistance, may impose a reasonable administrative fee or application fee that may be paid from the proceeds of the loan or financial assistance or other available funds of the applicant. These fees
may

shall
be deposited into the administrative account for purposes of payment of administrative costs of the program.

Section 2.

This act is effective July 1, 20
0
8.

(END)

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HB0066