California Code of Regulations › Title 23 - Waters › Division 3 - State Water Resources Control Board and Regional Water Quality Control Boards › Chapter 24 - Grant and Loan Programs › Article 2 - Replacing, Removing, or Upgrading Petroleum Underground Storage Tanks Grant and Loan Program › Section 3420 - Definitions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The following definitions shall govern construction of this
					 article:
"Air district" means an air pollution control district or
					 air quality management district.
"Applicant" means a small business that owns or operates
					 the project tanks and is applying for a loan or a grant.
"Applicant's principals" mean the primary persons in the
					 small business, including any directors, managers, members, officers, or
					 partners.
"Application" means the information contained in sections
					 3424 or
					 3425 which an applicant must
					 provide to the Board when seeking a loan or a grant.
"Board" means the State Water Resources Control
					 Board.
"Borrower" means an applicant whose application for a loan
					 has been approved and a fully executed loan is in place.
"California Environmental Reporting System" has the same
					 meaning as defined in section
					 15110 of title 27 of the
					 California Code of Regulations.
"Capacity" means how much debt an applicant can handle. To
					 determine "capacity," the Board analyzes an applicant's income streams and any
					 debts or outstanding obligations that may jeopardize repayment.
"Capital" means an applicant's current available assets,
					 including real estate, savings, and investments that the applicant could use to
					 repay debt if the applicant's income decreased.
"Character" means how an applicant has handled past debt
					 obligations. To determine "character," the Board will evaluate an applicant's
					 credit history and reliability to determine the likelihood that the applicant
					 will repay all loan funds as required.
"Collateral" means equity in real and personal property
					 that will be pledged as security for repayment of a loan, to be forfeited in
					 the event of a default.
"Grant agreement" means a written agreement for a grant
					 made in accordance with this article.
"Grantee" means an applicant for which an application for a
					 grant has been approved and a fully executed grant is in place.
"Local agency" means a local agency authorized pursuant to
					 Health and Safety Code section
					 25283
					 to implement chapter 6.7 of division 20 of the Health and Safety Code.
"Loan agreement" means a written agreement for a loan made
					 in accordance with this article.
"Operator" has the same meaning as defined in section
					 25281
					 of the Health and Safety Code.
"Owner" has the same meaning as defined in section
					 25281
					 of the Health and Safety Code.
"Petroleum" has the same meaning as defined in section
					 2804 of title 23 of the California
					 Code of Regulations.
"Project" means the work an applicant proposes to perform
					 in order to upgrade, replace, or remove the project tanks.
"Project facility" means the facility, as defined by
					 section
					 25281
					 of the Health and Safety Code, at which the project tanks are located.
"Project tanks" means one or more tanks that would be
					 upgraded, replaced, or removed with loan or grant funds. "Project tanks" also
					 includes one or more tanks that are upgraded to comply with the Enhanced Vapor
					 Recovery Phase II regulations.
"RUST Program" means the program administered by the Board
					 pursuant to chapter 6.76 of division 20 of the Health and Safety Code for the
					 purpose of providing grants and loans for upgrading, replacing, or removing
					 project tanks.
"Small business" means a business that complies with all of
					 the following:
(a) The principal
				  office is domiciled in California,
(b) The applicant's principals are domiciled
				  in California, and
(c) The business
				  meets either (1) or (2) below:
(1) For
				  grants, the business meets both of the following:
(A) It is a small business as defined in
				  section 632 of title 15 of the United
				  States Code, and in the federal regulations adopted to implement that section
				  as specified in part 121 (commencing with section
				  121.101) of chapter 1 of title 13
				  of the Code of Federal Regulations; and
(B) The business employs fewer than 20
				  full-time and part-time employees.