HB0156

Establishes a 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.

• Creates the local water system funding program to provide financial assistance to cities, towns, and special districts for improvements to community public water systems and community wastewater systems. (W.S. 16-1-402(a))
• Designates the state loan and investment board with assistance from the office of state lands and investments to administer the program and promulgate all necessary rules. (W.S. 16-1-402(b), Sec. 2)
• Requires the board to establish an application process, review applications, administer financial assistance, conduct annual audits, and report to the joint appropriations committee and joint minerals, business and economic development interim committee by November 1 each year. (W.S. 16-1-402(c))
• Allows program funds to be used for predevelopment and preapplication costs, planning and technical assistance, local matching funds, repayment of federal or state loans, and costs related to joining regional water or wastewater systems. (W.S. 16-1-402(d))
• Establishes project eligibility requirements, including that consumer rates must comply with W.S. 15-7-407 and projects must qualify under state water pollution control revolving loan, drinking water revolving loan, Wyoming water development office, or local government capital construction programs. (W.S. 16-1-402(e))
• Specifies factors the board must consider when reviewing applications, including population, repayment ability, existing consumer rates and reserves, ability to join regional systems, and audit results. (W.S. 16-1-402(f))
• Requires cities, towns, or special districts receiving assistance to establish or maintain depreciation funds in accordance with W.S. 15-7-407(b). (W.S. 16-1-402(g))
• Authorizes the board to borrow up to fifty million dollars per fiscal year from the strategic investments and projects account, or if insufficient funds exist, from the legislative stabilization reserve account, with repayment required at interest rates between zero and one and five-tenths percent based on the fund's previous fiscal year rate of return.