This amendment creates a new local water system funding program administered by the state loan and investment board to provide financial assistance to cities, towns, and special districts for water and wastewater system improvements.
- Updates the bill title to reference the creation of a local water system funding program. (Page 1, lines 1-2)
- Creates the local water system funding program, administered by the state loan and investment board with assistance from the office of state lands and investments, to provide financial assistance to cities, towns, and special districts for improvements to community public water systems and wastewater systems. (Page 141-142, new section inserted after line 19)
- Establishes an application process for entities to apply for financial assistance and requires the board to receive, review, and approve applications for funding in accordance with specified eligibility criteria. (Page 142, subsection (d))
- Limits eligible projects to those involving water or wastewater systems where consumer rates are charged and the project meets at least one of four specified categories: eligibility under state water pollution control or drinking water revolving loan accounts, approval by Wyoming water development office, or eligibility as a local government capital construction project. (Page 142-143, subsection (f))
- Requires the board to consider population, ability to pay, existing consumer rates, ability to join regional systems, and audit records when reviewing applications for financial assistance. (Page 143, subsection (g))
- Requires recipients to establish or maintain depreciation funds in accordance with W.S. 15-7-407(b). (Page 143, subsection (h))
- Authorizes the state loan and investment board to borrow up to one hundred million dollars from the legislative stabilization reserve account during the period July 1, 2026 through June 30, 2028 to provide financial assistance under the program, with interest charged at a rate not less than zero percent and not more than 1.5%. (Page 143-144, subsection (k))
- Makes the section effective immediately. (Page 144, subsection (m))
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