HB5226 Summary

• Amends the Environmental Protection Act to modify the Water Revolving Fund, which consists of three loan programs: Water Pollution Control Loan Program, Public Water Supply Loan Program, and Loan Support Program.

• Expands loan assistance to include additional subsidization methods such as forgiveness of principal, negative interest rates, and grants in addition to direct loans at or below market rates.

• Adds support for projects that fulfill federal State Revolving Fund green project reserve requirements for both water pollution control and public water supply construction projects.

• Authorizes the Agency to enter into agreements with federal, state, and financial institutions to capitalize the Water Revolving Fund, create reserve funds, and develop a secondary market for loans.

• Establishes that investment earnings on funds held in the Water Revolving Fund shall be deposited back into the Fund; effective upon becoming law.