Article 8.6. Revolving Loans Fund of California Health And Safety Code >> Division 20. >> Chapter 6.8. >> Article 8.6.
Unless the context otherwise requires, the following
definitions govern the construction of this article:
(a) "Brownfield site" has the same meaning as defined in Section
9601 of Title 42 of the United States Code.
(b) "Brownfield law" means the Small Business Liability Relief and
Brownfields Revitalization Act of 2002 (Public Law 107-117) as
amending the federal act.
(c) "Federal Trust Fund" means the Federal Trust Fund established
pursuant to Section 16360 of the Government Code.
(d) "Fund" means the Revolving Loans Fund established pursuant to
(a) The Revolving Loans Fund is hereby created in the
State Treasury. Notwithstanding Section 13340 of the Government Code,
all moneys in the fund shall be continuously appropriated, without
regard to fiscal year, to the department for expenditure in
accordance with this chapter. The department is the state agency
responsible for administering the fund.
(b) All of the following moneys shall be deposited in the fund:
(1) Notwithstanding Section 25173.6, moneys received pursuant to
the brownfield law and transferred to the fund from the Federal Trust
(2) The amounts collected for loan services.
(3) Interest payments.
(4) Principal repayments.
(5) Notwithstanding Section 16475 of the Government Code, any
interest earned upon the moneys deposited in the fund.
(c) The department may expend the moneys in the fund only for the
purposes authorized by the brownfield law, as specified in subsection
(k) of Section 9604 of Title 42 of the United States Code, including
providing financial assistance for both of the following:
(1) Issuing loans for response actions to eligible brownfield
(2) Making subgrants for response actions to eligible brownfield
(d) Any repayment of fund moneys, including interest payments, and
all interest earned on, or accruing to, any moneys in the fund, that
are deposited in the fund, as provided in subdivision (b), shall be
available, in perpetuity, for expenditure for the purposes and uses
authorized by the brownfield law.