Notwithstanding any provision of this article to the contrary:
(a) The Water Development Authority shall establish a separate and segregated sub account in the Infrastructure Fund designated the Critical Needs and Failing Systems Sub Account into which the council may instruct the Water Development Authority to transfer from the uncommitted loan balances on June 30 each year, up to $12 million.
(b) The council shall direct the Water Development Authority to make loans or grants from the Critical Needs and Failing Systems Sub Account when the council determines that a project will address a critical immediate need by:
(1) The continuation of water or wastewater services;
(2) Addressing water facility or wastewater facility failure due to the age of the facility or facilities; or
(3) Providing extensions to a water facility or wastewater facility that will add customers with a total project cost of less than $2 million: Provided, That a person or governmental agency, as those terms are defined in 31-15A-2 of this code, shall pay any overage not to exceed 10 percent of the total project cost.
(c) Grant limitations and allocations contained in 31-15A-10(b) and 31-15A-10(c) of this code do not apply to grants made from the Critical Needs and Failing Systems Sub Account.
Structure West Virginia Code
Article 15A. West Virginia Infrastructure and Jobs Development Council
§31-15A-4. Development of Guidelines and Preliminary Application for Funding Assistance
§31-15A-6. Powers, Duties and Responsibilities of the Council Generally; Comprehensive Assessment
§31-15A-7. Current and Prospective Planning; Roads and Highways; Report to Division of Highways
§31-15A-11. Reservation of Funds for Projects and Infrastructure Projects
§31-15A-12. Additional Powers of Water Development Authority
§31-15A-14. Termination or Dissolution
§31-15A-15. Projects Not to Be Considered Public Improvements; Competitive Bid Requirements
§31-15A-16. Dedication of Severance Tax Proceeds
§31-15A-17a. Infrastructure Revenue Bonds Payable From A. James Manchin Fund
§31-15A-17b. Infrastructure Lottery Revenue Bonds for Watershed Compliance Projects
§31-15A-17c. Critical Needs and Failing Systems Sub Account
§31-15A-18. Trustee for Holders of Infrastructure Revenue Bonds; Contents of Trust Agreement
§31-15A-19. Legal Remedies of Infrastructure Revenue Bondholders or Noteholders and Trustees
§31-15A-20. Infrastructure Revenue Bonds Lawful Investments
§31-15A-21. Purchase and Cancellation of Infrastructure Revenue Bonds
§31-15A-22. Refunding Revenue Bonds
§31-15A-24. Infrastructure Revenue Bonds Exempt From Taxation