H.B. 628 Summary

• Establishes an Infrastructure Capacity Construction Loan Revolving Fund administered by the Department of Accounting and General Services to provide loans for infrastructure improvements that increase capacity.

• Fund may provide loans to counties, state agencies, and private developers for regional sewer, water, drainage, roads, and telecommunications/broadband projects that support planned growth rather than maintenance.

• Fund sources include loan repayments with simple interest (below prevailing market rate), legislative appropriations, federal grants, private investor contributions, and voluntary contributions.

• Eligible costs include planning, design, feasibility studies, construction, and materials; excludes maintenance/repair unless it increases infrastructure capacity, and excludes projects solely for mass transit or electrical utilities.

• Appropriates unspecified amounts from general revenues for fiscal years 2017-2018 and 2018-2019 to fund the revolving fund and its administration; effective date is July 1, 2050.