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ID S1058
Bill
AI Summary
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Extends loan amortization period from twenty (20) years to thirty (30) years from the date project construction is completed for municipalities and community and nonprofit noncommunity public drinking water systems.
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Amends Idaho Code Section 39-3627 to modify contract provisions between the Idaho Board of Environmental Quality and water system entities regarding eligible construction projects.
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Requires annual principal and interest payments to commence no later than one (1) year after construction completion, with full loan amortization required within the thirty-year timeframe.
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Applies to contracts for sewage treatment works and community and nonprofit noncommunity public drinking water systems receiving state loans.
Legislative Description
Amends existing law relating to the Idaho Board of Environmental Quality to provide that municipalities and community and nonprofit noncommunity public drinking water systems shall agree to provide for full amortization of loans not later than thirty years from the date project construction is completed regarding contracts between the board and such entities concerning eligible construction projects.
BOARD OF ENVIRONMENTAL QUALITY
Last Action
Governor signed Session Law Chapter 44 Effective: 07/01/11
3/8/2011