75-6-226. Loan subsidy for disadvantaged communities. (1) Notwithstanding any other provision in this part, if the program makes a loan pursuant to 75-6-221(1) to a disadvantaged community or to a community that the department expects to become a disadvantaged community as a result of a proposed project, the department may provide additional subsidization in the form of a reduced interest rate, the forgiveness of principal, or a combination of both.
(2) The total annual amount of loan subsidies made by the department pursuant to subsection (1) may not exceed 30% of the capitalization grant received by the department for each fiscal year.
History: En. Sec. 20, Ch. 538, L. 1997; amd. Sec. 3, Ch. 323, L. 2005; amd. Sec. 39, Ch. 489, L. 2009.
Structure Montana Code Annotated
Title 75. Environmental Protection
Chapter 6. Public Water Supplies, Distribution, and Treatment
Part 2. Drinking Water State Revolving Fund Act
75-6-203. Drinking water state revolving fund program
75-6-204. Authorization of agreement -- content
75-6-205. Rulemaking authority
75-6-206. through 75-6-210 reserved
75-6-212. Use of revolving fund
75-6-214. Use of funds -- statutory appropriation
75-6-216. through 75-6-220 reserved
75-6-221. General loan and assistance program
75-6-222. Evaluation of projects and loan applications
75-6-223. Applications for loans
75-6-225. Authorization of bonds -- allocation of proceeds
75-6-226. Loan subsidy for disadvantaged communities
75-6-228. through 75-6-230 reserved
75-6-231. Intended use plan -- advisory committee
75-6-232. Insurance and guarantee program
75-6-233. through 75-6-235 reserved
75-6-236. Projects funded by federal government appropriations