HB0001H2035

This amendment replaces Section 346 of HB0001 by converting a loan program for natural disaster mitigation into a grant program administered by the Wyoming Wildlife and Natural Resource Trust Fund Board, with $130 million appropriated from the legislative stabilization reserve account.

• Deletes the existing natural disaster mitigation loan program (pages 76-78 and lines 1-10 of page 79) and replaces it with a grant program instead of loans. (Page 76, lines 8-26; Pages 77-78 entirely; Page 79, lines 1-10)
• Changes the funding source and administration: appropriates $130 million from the legislative stabilization reserve account to the Wyoming wildlife and natural resource trust account, and authorizes the Wyoming Wildlife and Natural Resource Trust Fund Board to award grants instead of the State Loan and Investment Board making loans. (Page 79-80, new Section 346(a))
• Removes loan-specific requirements (interest rates, collateral, loan terms, principal repayment to stabilization reserve) and replaces them with grant conditions requiring applicants to demonstrate they have applied for insurance and federal/state funding or were ineligible for such funding. (Page 80-81, new Section 346(b) through (e))
• Maintains the same eligible purposes for mitigation and restoration projects, including vegetation restoration, invasive species prevention, fence replacement, habitat restoration, irrigation facility repair, private structure repair, cost-sharing, and assistance to farmers and ranchers experiencing catastrophic events. (Page 80, new Section 346(b)(i)-(viii))
• Eliminates the grant process requirements of W.S. 9-15-101 through 9-15-107, allowing direct grant administration outside the standard grant process. (Page 80, new Section 346(c))
• Removes the specific loan administration requirements including collateral security, loan term limits, interest rate provisions, and principal/interest payment handling, replacing them with reporting requirements to the joint appropriations committee and joint agriculture, state and public lands and water resources interim committee. (Page 81, new Section 346(e)-(f))
• Sets a deadline of June 30, 2027 after which no new grants shall be awarded under this section. (Page 80, new Section 346(a))

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