S.B. 3142 - Water Infrastructure

• Authorizes the Governor or designated state official to transfer federal capitalization grant funds between the Drinking Water Treatment Revolving Loan Fund and the Water Pollution Control Revolving Fund in accordance with federal regulations (40 CFR 35.3530(c)).

• Permits transfers up to 33% of the fiscal year's drinking water treatment revolving loan fund capitalization grant amount between the two funds on a net basis.

• Requires Attorney General certification that state law permits transfers and mandates amendment of operating agreements to detail the transfer method upon initial fund transfer.

• Prohibits use of transferred funds to acquire state match for either fund or to secure or repay state match bonds.

• Allows the Governor to reserve fund amounts for transfers in future years as required under federal law.