Of the moneys received by the state from the sale of bonds pursuant to
the Clean Water/Clean Air Bond Act of 1996, three hundred fifty-five
million dollars ($355,000,000) shall be used for the capitalization of a
drinking water revolving fund administered by the environmental
facilities corporation pursuant to section one thousand two hundred
eighty-five-m of the public authorities law and by the department of
health pursuant to title four of article eleven of the public health law
to finance drinking water infrastructure projects pursuant to the
provisions of paragraph a of subdivision three of section one thousand
two hundred eighty-five-m of the public authorities law, including
financing of the state match for federal capitalization grants for the
drinking water revolving fund.