1 | 1 | | 02-24 13:44 H.B. 546 |
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2 | 2 | | 1 |
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3 | 3 | | Water Infrastructure Amendments |
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4 | 4 | | 2025 GENERAL SESSION |
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5 | 5 | | STATE OF UTAH |
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6 | 6 | | Chief Sponsor: Thomas W. Peterson |
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7 | 7 | | Senate Sponsor: |
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8 | 8 | | 2 |
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9 | 9 | | |
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10 | 10 | | 3 |
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11 | 11 | | LONG TITLE |
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12 | 12 | | 4 |
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13 | 13 | | General Description: |
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14 | 14 | | 5 |
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15 | 15 | | This bill addresses storm water and storm water's effects on the Great Salt Lake. |
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16 | 16 | | 6 |
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17 | 17 | | Highlighted Provisions: |
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18 | 18 | | 7 |
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19 | 19 | | This bill: |
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20 | 20 | | 8 |
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21 | 21 | | ▸ defines terms; |
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22 | 22 | | 9 |
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23 | 23 | | ▸ creates the Storm Water Improvements Fund, including providing for loans to political |
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24 | 24 | | 10 |
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25 | 25 | | subdivisions; |
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26 | 26 | | 11 |
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27 | 27 | | ▸ requires a study on the management of storm water in the Great Salt Lake basin; |
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28 | 28 | | 12 |
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29 | 29 | | ▸ requires reporting on the study; |
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30 | 30 | | 13 |
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31 | 31 | | ▸ modifies references to revolving loan funds; and |
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32 | 32 | | 14 |
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33 | 33 | | ▸ makes technical and conforming changes. |
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34 | 34 | | 15 |
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35 | 35 | | Money Appropriated in this Bill: |
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36 | 36 | | 16 |
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37 | 37 | | None |
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38 | 38 | | 17 |
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39 | 39 | | Other Special Clauses: |
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40 | 40 | | 18 |
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41 | 41 | | None |
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42 | 42 | | 19 |
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43 | 43 | | Utah Code Sections Affected: |
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44 | 44 | | 20 |
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45 | 45 | | AMENDS: |
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46 | 46 | | 21 |
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47 | 47 | | 63A-3-205, as last amended by Laws of Utah 2022, Chapters 100, 451 |
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48 | 48 | | 22 |
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49 | 49 | | 63B-1b-102, as last amended by Laws of Utah 2022, Chapters 100, 451 |
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50 | 50 | | 23 |
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51 | 51 | | 63C-25-101, as last amended by Laws of Utah 2024, Chapter 419 |
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52 | 52 | | 24 |
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53 | 53 | | ENACTS: |
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54 | 54 | | 25 |
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55 | 55 | | 19-5-108.7, Utah Code Annotated 1953 |
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56 | 56 | | 26 |
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57 | 57 | | |
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58 | 58 | | 27 |
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59 | 59 | | Be it enacted by the Legislature of the state of Utah: |
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60 | 60 | | 28 |
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61 | 61 | | Section 1. Section 19-5-108.7 is enacted to read: |
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62 | 62 | | 29 |
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63 | 63 | | 19-5-108.7 . Storm water study and funding. |
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64 | 64 | | 30 |
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65 | 65 | | (1) As used in this section: |
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66 | 66 | | H.B. 546 H.B. 546 02-24 13:44 |
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67 | 67 | | 31 |
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68 | 68 | | (a) "Fund" means the Storm Water Improvements Fund created by this section. |
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69 | 69 | | 32 |
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70 | 70 | | (b) "Great Salt Lake basin" means the area within: |
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71 | 71 | | 33 |
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72 | 72 | | (i) the surveyed meander line of the Great Salt Lake; |
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73 | 73 | | 34 |
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74 | 74 | | (ii) the drainage areas of the Bear River or the Bear River's tributaries; |
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75 | 75 | | 35 |
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76 | 76 | | (iii) the drainage areas of Bear Lake or Bear Lake's tributaries; |
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77 | 77 | | 36 |
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78 | 78 | | (iv) the drainage areas of the Weber River or the Weber River's tributaries; |
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79 | 79 | | 37 |
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80 | 80 | | (v) the drainage areas of the Jordan River or the Jordan River's tributaries; |
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81 | 81 | | 38 |
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82 | 82 | | (vi) the drainage areas of Utah Lake or Utah Lake's tributaries; |
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83 | 83 | | 39 |
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84 | 84 | | (vii) other water drainages lying between the Bear River and the Jordan River that are |
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85 | 85 | | 40 |
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86 | 86 | | tributary to the Great Salt Lake and not included in the drainage areas described in |
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87 | 87 | | 41 |
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88 | 88 | | Subsections (1)(b)(ii) through (vi); and |
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89 | 89 | | 42 |
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90 | 90 | | (viii) the drainage area of Tooele Valley. |
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91 | 91 | | 43 |
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92 | 92 | | (c) "Low impact development" means the same as that term is defined in Section |
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93 | 93 | | 44 |
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94 | 94 | | 19-5-108.5. |
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95 | 95 | | 45 |
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96 | 96 | | (d) "Political subdivision" means a county, city, town, improvement district, water |
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97 | 97 | | 46 |
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98 | 98 | | conservancy district, special service district, drainage district, metropolitan water |
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99 | 99 | | 47 |
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100 | 100 | | district, irrigation district, separate legal or administrative entity created under Title |
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101 | 101 | | 48 |
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102 | 102 | | 11, Chapter 13, Interlocal Cooperation Act, or any other entity constituting a political |
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103 | 103 | | 49 |
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104 | 104 | | subdivision under the laws of this state. |
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105 | 105 | | 50 |
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106 | 106 | | (e) "Storm water" means the same as that term is defined in Section 19-5-108.5. |
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107 | 107 | | 51 |
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108 | 108 | | (2)(a) There is created an enterprise fund called the "Storm Water Improvements Fund." |
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109 | 109 | | 52 |
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110 | 110 | | (b) The fund consists of: |
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111 | 111 | | 53 |
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112 | 112 | | (i) money appropriated or otherwise made available to the fund by the Legislature; |
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113 | 113 | | 54 |
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114 | 114 | | (ii) money received for the repayment of loans made by the board under this section; |
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115 | 115 | | 55 |
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116 | 116 | | and |
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117 | 117 | | 56 |
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118 | 118 | | (iii) interest or earnings under Subsection (2)(c). |
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119 | 119 | | 57 |
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120 | 120 | | (c) The state treasurer shall: |
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121 | 121 | | 58 |
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122 | 122 | | (i) invest the money in the fund in accordance with Title 51, Chapter 7, State Money |
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123 | 123 | | 59 |
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124 | 124 | | Management Act; and |
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125 | 125 | | 60 |
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126 | 126 | | (ii) deposit the interest or other earnings derived from those investments into the fund. |
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127 | 127 | | 61 |
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128 | 128 | | (d) The money in the fund is available for loans to political subdivisions, administrative |
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129 | 129 | | 62 |
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130 | 130 | | costs, or other purposes of this section to the extent the money is appropriated by the |
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131 | 131 | | 63 |
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132 | 132 | | Legislature for that purpose. |
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133 | 133 | | 64 |
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134 | 134 | | (e) The board may, in accordance with this section, loan money available in the fund to a |
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135 | 135 | | - 2 - 02-24 13:44 H.B. 546 |
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136 | 136 | | 65 |
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137 | 137 | | political subdivision in the Great Salt Lake basin to be used for: |
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138 | 138 | | 66 |
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139 | 139 | | (i) upgrading storm water infrastructure, including to: |
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140 | 140 | | 67 |
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141 | 141 | | (A) maintain or improve flood control; |
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142 | 142 | | 68 |
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143 | 143 | | (B) protect water quality; and |
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144 | 144 | | 69 |
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145 | 145 | | (C) prevent erosion; or |
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146 | 146 | | 70 |
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147 | 147 | | (ii) replacing low impact development with alternate forms of storm water |
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148 | 148 | | 71 |
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149 | 149 | | infrastructure while maintaining water quality. |
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150 | 150 | | 72 |
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151 | 151 | | (f) A political subdivision may apply to the board for a loan under this section to: |
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152 | 152 | | 73 |
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153 | 153 | | (i) meet the purposes described in Subsection (2)(e); and |
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154 | 154 | | 74 |
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155 | 155 | | (ii) support availability of water being distributed to the Great Salt Lake. |
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156 | 156 | | 75 |
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157 | 157 | | (g) A loan made under this section shall: |
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158 | 158 | | 76 |
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159 | 159 | | (i) have a fixed annual interest rate below municipal bond market rates based on |
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160 | 160 | | 77 |
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161 | 161 | | policies developed by the board; |
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162 | 162 | | 78 |
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163 | 163 | | (ii) have a term no longer than 30 years; and |
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164 | 164 | | 79 |
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165 | 165 | | (iii) comply with rules made by the board under Subsection (2)(h). |
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166 | 166 | | 80 |
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167 | 167 | | (h) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the |
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168 | 168 | | 81 |
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169 | 169 | | board shall make rules establishing: |
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170 | 170 | | 82 |
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171 | 171 | | (i) the form, content, and procedure for a loan application; |
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172 | 172 | | 83 |
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173 | 173 | | (ii) criteria and procedures for prioritizing a loan application; |
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174 | 174 | | 84 |
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175 | 175 | | (iii) procedures for making a loan; |
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176 | 176 | | 85 |
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177 | 177 | | (iv) procedures for administering and ensuring repayment of a loan, including late |
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178 | 178 | | 86 |
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179 | 179 | | payment penalties; and |
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180 | 180 | | 87 |
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181 | 181 | | (v) procedures for recovering on a defaulted loan. |
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182 | 182 | | 88 |
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183 | 183 | | (3)(a) The division shall study the management of storm water in the Great Salt Lake |
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184 | 184 | | 89 |
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185 | 185 | | basin. |
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186 | 186 | | 90 |
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187 | 187 | | (b) The study conducted under this Subsection (3) shall include examination of: |
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188 | 188 | | 91 |
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189 | 189 | | (i) the water quality relationship to low impact development; |
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190 | 190 | | 92 |
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191 | 191 | | (ii) the feasibility of regionalized solutions; |
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192 | 192 | | 93 |
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193 | 193 | | (iii) the water quantity advantages of storm water projects that are not low impact |
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194 | 194 | | 94 |
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195 | 195 | | development; |
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196 | 196 | | 95 |
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197 | 197 | | (iv) how to maximize the amount of storm water that reaches the Great Salt Lake; |
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198 | 198 | | 96 |
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199 | 199 | | (v) funding needs; |
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200 | 200 | | 97 |
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201 | 201 | | (vi) priorities for awarding money; |
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202 | 202 | | 98 |
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203 | 203 | | (vii) subject to Subsection (3)(c), water supply benefits; and |
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204 | 204 | | - 3 - H.B. 546 02-24 13:44 |
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205 | 205 | | 99 |
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206 | 206 | | (viii) coordination with utilities. |
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207 | 207 | | 100 |
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208 | 208 | | (c) The division shall coordinate with the Division of Water Resources in examining |
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209 | 209 | | 101 |
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210 | 210 | | water supply benefits. |
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211 | 211 | | 102 |
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212 | 212 | | (d) The division shall report the findings of the study to the Legislative Water |
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213 | 213 | | 103 |
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214 | 214 | | Development Commission by no later than the 2025 November interim meetings of |
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215 | 215 | | 104 |
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216 | 216 | | the Legislature. |
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217 | 217 | | 105 |
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218 | 218 | | Section 2. Section 63A-3-205 is amended to read: |
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219 | 219 | | 106 |
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220 | 220 | | 63A-3-205 . Revolving loan funds -- Standards and procedures. |
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221 | 221 | | 107 |
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222 | 222 | | (1) As used in this section, "revolving loan fund" means: |
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223 | 223 | | 108 |
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224 | 224 | | (a) the Water Resources Conservation and Development Fund, created in Section |
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225 | 225 | | 109 |
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226 | 226 | | 73-10-24; |
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227 | 227 | | 110 |
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228 | 228 | | (b) the Water Resources Construction Fund, created in Section 73-10-8; |
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229 | 229 | | 111 |
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230 | 230 | | (c) the Water Resources Cities Water Loan Fund, created in Section 73-10-22; |
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231 | 231 | | 112 |
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232 | 232 | | (d) the Clean Fuel Conversion Funds, created in Title 19, Chapter 1, Part 4, Clean Fuels |
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233 | 233 | | 113 |
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234 | 234 | | and Emission Reduction Technology Program Act; |
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235 | 235 | | 114 |
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236 | 236 | | (e) the Water Development Security Fund and its subaccounts, created in Section |
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237 | 237 | | 115 |
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238 | 238 | | 73-10c-5; |
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239 | 239 | | 116 |
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240 | 240 | | (f) the Agriculture Resource Development Fund, created in Section 4-18-106; |
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241 | 241 | | 117 |
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242 | 242 | | (g) the Utah Rural Rehabilitation Fund, created in Section 4-19-105; |
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243 | 243 | | 118 |
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244 | 244 | | (h) the Permanent Community Impact Fund, created in Section 35A-8-303; |
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245 | 245 | | 119 |
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246 | 246 | | (i) the Petroleum Storage Tank Fund, created in Section 19-6-409; |
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247 | 247 | | 120 |
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248 | 248 | | (j) the Uintah Basin Revitalization Fund, created in Section 35A-8-1602; |
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249 | 249 | | 121 |
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250 | 250 | | (k) the Navajo Revitalization Fund, created in Section 35A-8-1704; [and] |
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251 | 251 | | 122 |
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252 | 252 | | (l) the Energy Efficiency Fund, created in Section 11-45-201[.] ; and |
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253 | 253 | | 123 |
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254 | 254 | | (m) the Storm Water Improvements Fund, created in Section 19-5-108.7. |
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255 | 255 | | 124 |
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256 | 256 | | (2) The division shall for each revolving loan fund make rules establishing standards and |
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257 | 257 | | 125 |
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258 | 258 | | procedures governing: |
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259 | 259 | | 126 |
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260 | 260 | | (a) payment schedules and due dates; |
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261 | 261 | | 127 |
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262 | 262 | | (b) interest rate effective dates; |
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263 | 263 | | 128 |
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264 | 264 | | (c) loan documentation requirements; and |
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265 | 265 | | 129 |
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266 | 266 | | (d) interest rate calculation requirements. |
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267 | 267 | | 130 |
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268 | 268 | | Section 3. Section 63B-1b-102 is amended to read: |
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269 | 269 | | 131 |
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270 | 270 | | 63B-1b-102 . Definitions. |
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271 | 271 | | 132 |
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272 | 272 | | As used in this chapter: |
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273 | 273 | | - 4 - 02-24 13:44 H.B. 546 |
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274 | 274 | | 133 |
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275 | 275 | | (1) "Agency bonds" means any bond, note, contract, or other evidence of indebtedness |
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276 | 276 | | 134 |
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277 | 277 | | representing loans or grants made by an authorizing agency. |
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278 | 278 | | 135 |
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279 | 279 | | (2) "Authorized official" means the state treasurer or other person authorized by a bond |
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280 | 280 | | 136 |
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281 | 281 | | document to perform the required action. |
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282 | 282 | | 137 |
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283 | 283 | | (3) "Authorizing agency" means the board, person, or unit with legal responsibility for |
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284 | 284 | | 138 |
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285 | 285 | | administering and managing revolving loan funds. |
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286 | 286 | | 139 |
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287 | 287 | | (4) "Bond document" means: |
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288 | 288 | | 140 |
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289 | 289 | | (a) a resolution of the commission; or |
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290 | 290 | | 141 |
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291 | 291 | | (b) an indenture or other similar document authorized by the commission that authorizes |
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292 | 292 | | 142 |
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293 | 293 | | and secures outstanding revenue bonds from time to time. |
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294 | 294 | | 143 |
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295 | 295 | | (5) "Commission" means the State Bonding Commission, created in Section 63B-1-201. |
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296 | 296 | | 144 |
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297 | 297 | | (6) "Revenue bonds" means any special fund revenue bonds issued under this chapter. |
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298 | 298 | | 145 |
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299 | 299 | | (7) "Revolving Loan Funds" means: |
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300 | 300 | | 146 |
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301 | 301 | | (a) the Water Resources Conservation and Development Fund, created in Section |
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302 | 302 | | 147 |
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303 | 303 | | 73-10-24; |
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304 | 304 | | 148 |
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305 | 305 | | (b) the Water Resources Construction Fund, created in Section 73-10-8; |
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306 | 306 | | 149 |
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307 | 307 | | (c) the Water Resources Cities Water Loan Fund, created in Section 73-10-22; |
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308 | 308 | | 150 |
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309 | 309 | | (d) the Clean Fuel Conversion Funds, created in Title 19, Chapter 1, Part 4, Clean Fuels |
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310 | 310 | | 151 |
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311 | 311 | | and Emission Reduction Technology Program Act; |
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312 | 312 | | 152 |
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313 | 313 | | (e) the Water Development Security Fund and its subaccounts, created in Section |
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314 | 314 | | 153 |
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315 | 315 | | 73-10c-5; |
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316 | 316 | | 154 |
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317 | 317 | | (f) the Agriculture Resource Development Fund, created in Section 4-18-106; |
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318 | 318 | | 155 |
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319 | 319 | | (g) the Utah Rural Rehabilitation Fund, created in Section 4-19-105; |
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320 | 320 | | 156 |
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321 | 321 | | (h) the Permanent Community Impact Fund, created in Section 35A-8-303; |
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322 | 322 | | 157 |
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323 | 323 | | (i) the Petroleum Storage Tank Fund, created in Section 19-6-409; [and] |
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324 | 324 | | 158 |
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325 | 325 | | (j) the State Infrastructure Bank Fund, created in Section 72-2-202[.] ; and |
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326 | 326 | | 159 |
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327 | 327 | | (k) the Storm Water Improvements Fund, created in Section 19-5-108.7. |
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328 | 328 | | 160 |
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329 | 329 | | Section 4. Section 63C-25-101 is amended to read: |
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330 | 330 | | 161 |
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331 | 331 | | 63C-25-101 . Definitions. |
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332 | 332 | | 162 |
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333 | 333 | | As used in this chapter: |
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334 | 334 | | 163 |
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335 | 335 | | (1) "Authority" means the same as that term is defined in Section 63B-1-303. |
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336 | 336 | | 164 |
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337 | 337 | | (2) "Bond" means the same as that term is defined in Section 63B-1-101. |
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338 | 338 | | 165 |
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339 | 339 | | (3)(a) "Bonding government entity" means the state or any entity that is authorized to |
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340 | 340 | | 166 |
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341 | 341 | | issue bonds under any provision of state law. |
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342 | 342 | | - 5 - H.B. 546 02-24 13:44 |
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343 | 343 | | 167 |
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344 | 344 | | (b) "Bonding government entity" includes: |
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345 | 345 | | 168 |
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346 | 346 | | (i) a bonding political subdivision; and |
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347 | 347 | | 169 |
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348 | 348 | | (ii) a public infrastructure district that is authorized to issue bonds either directly, or |
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349 | 349 | | 170 |
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350 | 350 | | through the authority of a bonding political subdivision or other governmental |
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351 | 351 | | 171 |
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352 | 352 | | entity. |
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353 | 353 | | 172 |
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354 | 354 | | (4) "Bonding political subdivision" means: |
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355 | 355 | | 173 |
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356 | 356 | | (a) the Utah Inland Port Authority, created in Section 11-58-201; |
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357 | 357 | | 174 |
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358 | 358 | | (b) the Military Installation Development Authority, created in Section 63H-1-201; |
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359 | 359 | | 175 |
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360 | 360 | | (c) the Point of the Mountain State Land Authority, created in Section 11-59-201; |
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361 | 361 | | 176 |
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362 | 362 | | (d) the Utah Lake Authority, created in Section 11-65-201; |
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363 | 363 | | 177 |
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364 | 364 | | (e) the State Fair Park Authority, created in Section 11-68-201; or |
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365 | 365 | | 178 |
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366 | 366 | | (f) the Utah Fairpark Area Investment and Restoration District, created in Section |
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367 | 367 | | 179 |
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368 | 368 | | 11-70-201. |
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369 | 369 | | 180 |
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370 | 370 | | (5) "Commission" means the State Finance Review Commission created in Section |
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371 | 371 | | 181 |
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372 | 372 | | 63C-25-201. |
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373 | 373 | | 182 |
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374 | 374 | | (6) "Concessionaire" means a person who: |
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375 | 375 | | 183 |
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376 | 376 | | (a) operates, finances, maintains, or constructs a government facility under a contract |
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377 | 377 | | 184 |
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378 | 378 | | with a bonding political subdivision; and |
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379 | 379 | | 185 |
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380 | 380 | | (b) is not a bonding government entity. |
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381 | 381 | | 186 |
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382 | 382 | | (7) "Concessionaire contract" means a contract: |
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383 | 383 | | 187 |
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384 | 384 | | (a) between a bonding government entity and a concessionaire for the operation, finance, |
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385 | 385 | | 188 |
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386 | 386 | | maintenance, or construction of a government facility; |
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387 | 387 | | 189 |
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388 | 388 | | (b) that authorizes the concessionaire to operate the government facility for a term of |
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389 | 389 | | 190 |
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390 | 390 | | five years or longer, including any extension of the contract; and |
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391 | 391 | | 191 |
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392 | 392 | | (c) in which all or some of the annual source of payment to the concessionaire comes |
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393 | 393 | | 192 |
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394 | 394 | | from state funds provided to the bonding government entity. |
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395 | 395 | | 193 |
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396 | 396 | | (8) "Creating entity" means the same as that term is defined in Section 17D-4-102. |
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397 | 397 | | 194 |
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398 | 398 | | (9) "Government facility" means infrastructure, improvements, or a building that: |
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399 | 399 | | 195 |
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400 | 400 | | (a) costs more than $5,000,000 to construct; and |
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401 | 401 | | 196 |
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402 | 402 | | (b) has a useful life greater than five years. |
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403 | 403 | | 197 |
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404 | 404 | | (10) "Large public transit district" means the same as that term is defined in Section |
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405 | 405 | | 198 |
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406 | 406 | | 17B-2a-802. |
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407 | 407 | | 199 |
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408 | 408 | | (11) "Loan entity" means the board, person, unit, or agency with legal responsibility for |
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409 | 409 | | 200 |
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410 | 410 | | making a loan from a revolving loan fund. |
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411 | 411 | | - 6 - 02-24 13:44 H.B. 546 |
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412 | 412 | | 201 |
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413 | 413 | | (12) "Obligation" means the same as that term is defined in Section 63B-1-303. |
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414 | 414 | | 202 |
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415 | 415 | | (13) "Parameters resolution" means a resolution of a bonding government entity that sets |
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416 | 416 | | 203 |
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417 | 417 | | forth for proposed bonds: |
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418 | 418 | | 204 |
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419 | 419 | | (a) the maximum: |
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420 | 420 | | 205 |
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421 | 421 | | (i) amount of bonds; |
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422 | 422 | | 206 |
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423 | 423 | | (ii) term; and |
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424 | 424 | | 207 |
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425 | 425 | | (iii) interest rate; and |
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426 | 426 | | 208 |
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427 | 427 | | (b) the expected security for the bonds. |
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428 | 428 | | 209 |
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429 | 429 | | (14) "Public infrastructure district" means a public infrastructure district created under Title |
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430 | 430 | | 210 |
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431 | 431 | | 17D, Chapter 4, Public Infrastructure District Act. |
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432 | 432 | | 211 |
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433 | 433 | | (15) "Revolving loan fund" means: |
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434 | 434 | | 212 |
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435 | 435 | | (a) the Water Resources Conservation and Development Fund, created in Section |
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436 | 436 | | 213 |
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437 | 437 | | 73-10-24; |
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438 | 438 | | 214 |
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439 | 439 | | (b) the Water Resources Construction Fund, created in Section 73-10-8; |
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440 | 440 | | 215 |
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441 | 441 | | (c) the Water Resources Cities Water Loan Fund, created in Section 73-10-22; |
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442 | 442 | | 216 |
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443 | 443 | | (d) the Clean Fuel Conversion Funds, created in Title 19, Chapter 1, Part 4, Clean Fuels |
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444 | 444 | | 217 |
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445 | 445 | | and Emission Reduction Technology Program Act; |
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446 | 446 | | 218 |
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447 | 447 | | (e) the Water Development Security Fund and its subaccounts, created in Section |
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448 | 448 | | 219 |
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449 | 449 | | 73-10c-5; |
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450 | 450 | | 220 |
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451 | 451 | | (f) the Agriculture Resource Development Fund, created in Section 4-18-106; |
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452 | 452 | | 221 |
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453 | 453 | | (g) the Utah Rural Rehabilitation Fund, created in Section 4-19-105; |
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454 | 454 | | 222 |
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455 | 455 | | (h) the Permanent Community Impact Fund, created in Section 35A-8-303; |
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456 | 456 | | 223 |
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457 | 457 | | (i) the Petroleum Storage Tank Fund, created in Section 19-6-409; |
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458 | 458 | | 224 |
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459 | 459 | | (j) the School Building Revolving Account, created in Section 53F-9-206; |
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460 | 460 | | 225 |
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461 | 461 | | (k) the State Infrastructure Bank Fund, created in Section 72-2-202; |
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462 | 462 | | 226 |
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463 | 463 | | (l) the Uintah Basin Revitalization Fund, created in Section 35A-8-1602; |
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464 | 464 | | 227 |
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465 | 465 | | (m) the Navajo Revitalization Fund, created in Section 35A-8-1704; |
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466 | 466 | | 228 |
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467 | 467 | | (n) the Energy Efficiency Fund, created in Section 11-45-201; |
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468 | 468 | | 229 |
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469 | 469 | | (o) the Brownfields Fund, created in Section 19-8-120; |
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470 | 470 | | 230 |
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471 | 471 | | (p) any of the enterprise revolving loan funds created in Section 63A-3-402[: and] ; |
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472 | 472 | | 231 |
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473 | 473 | | (q) the Storm Water Improvements Fund, created in Section 19-5-108.7; and |
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474 | 474 | | 232 |
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475 | 475 | | [(q)] (r) any other revolving loan fund created in statute where the borrower from the |
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476 | 476 | | 233 |
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477 | 477 | | revolving loan fund is a public non-profit entity or political subdivision, including a |
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478 | 478 | | 234 |
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479 | 479 | | fund listed in Section 63A-3-205, from which a loan entity is authorized to make a |
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480 | 480 | | - 7 - H.B. 546 02-24 13:44 |
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481 | 481 | | 235 |
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482 | 482 | | loan. |
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483 | 483 | | 236 |
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484 | 484 | | (16)(a) "State funds" means an appropriation by the Legislature identified as coming |
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485 | 485 | | 237 |
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486 | 486 | | from the General Fund or Education Fund. |
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487 | 487 | | 238 |
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488 | 488 | | (b) "State funds" does not include: |
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489 | 489 | | 239 |
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490 | 490 | | (i) a revolving loan fund; or |
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491 | 491 | | 240 |
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492 | 492 | | (ii) revenues received by a bonding political subdivision from: |
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493 | 493 | | 241 |
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494 | 494 | | (A) a tax levied by the bonding political subdivision; |
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495 | 495 | | 242 |
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496 | 496 | | (B) a fee assessed by the bonding political subdivision; or |
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497 | 497 | | 243 |
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498 | 498 | | (C) operation of the bonding political subdivision's government facility. |
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499 | 499 | | 244 |
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500 | 500 | | Section 5. Effective Date. |
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501 | 501 | | 245 |
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502 | 502 | | This bill takes effect on May 7, 2025. |
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503 | 503 | | - 8 - |
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