California Code of Regulations › Title 22 - Social Security › Division 4.5 - Environmental Health Standards for the Management of Hazardous Waste › Chapter 47 - Loan Programs › Article 1 - Cleanup Loans and Environmental Assistance to Neighborhoods Revolving Loan Fund › Section 68203 - Loan Amounts; Interest

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
				  Investigating Site Contamination Program Loans: An ISCP Loan may not be for
				  more than $100,000;
(b) Cleanup
				  Loans and Environmental Assistance to Neighborhoods Loan Program Loans: A CLEAN
				  Loan Program Loan may not be for more than $2,500,000;
(c) The interest rate for ISCP and CLEAN Loan
				  Program Loans shall be the same rate as earned on investments in the State's
				  Surplus Money Investment Fund (Government Code section
				  16475).
				  The rate earned on investments in the Surplus Money Investment Fund in effect
				  on the date of Loan approval shall be retained for the life of the
				  Loan;
(d) If a Borrower defaults on
				  a Loan, the rate of interest from the date of default will be either 10 percent
				  or the default interest rate specified in the Loan Agreement executed under
				  section 68210, whichever is
				  greater;
(e) A Loan shall not be
				  used to pay for Ineligible Costs as defined under subdivision (r) of section
				  68202;
(f) Interest on the Loan amount for an ISCP
				  Loan shall accrue from the date of each disbursement of ISCP Loan funds by the
				  Department; and
(g) Interest on the
				  Loan amount of a CLEAN Loan Program Loan shall accrue from the date of each
				  disbursement of CLEAN Loan Program funds by the Department.
1. New
					 section filed 1-18-2001 as an emergency; operative 1-18-2001 (Register 2001,
					 No. 3). Pursuant to Health and Safety Code section
					 25395.29,
					 a Certificate of Compliance must be transmitted to OAL by 7-17-2001 or
					 emergency language will be repealed by operation of law on the following
					 day.
2. New section refiled 7-6-2001 as an emergency; operative
					 7-18-2001 (Register 2001, No. 27). Pursuant to Health and Safety Code section
					 25395.29,
					 a Certificate of Compliance must be transmitted to OAL by 1-14-2002 or
					 emergency language will be repealed by operation of law on the following
					 day.
3. Certificate of Compliance as to 7-6-2001 order transmitted
					 to OAL 1-14-2002; Certificate of Compliance withdrawn from review 2-27-2002.
					 Repealed by operation of Government Code section
					 11346.1(g)
					 (Register 2002, No. 9).
4. New section filed 3-1-2002 as an
					 emergency; operative 3-1-2002 (Register 2002, No. 9). Pursuant to Health and
					 Safety Code section
					 25395.29,
					 a Certificate of Compliance must be transmitted to OAL by 8-28-2002 or
					 emergency language will be repealed by operation of law on the following
					 day.
5. Certificate of Compliance as to 3-31-2002 order, including
					 amendment of section, transmitted to OAL 6-21-2002 and filed 8-5-2002 (Register
					 2002, No. 32).
Note: Authority cited: Sections
						25150,
						25351.5,
						25395.29
						and
						58012,
						Health and Safety Code. Reference: Sections
						25395.21,
						25395.24
						and
						25395.31,
						Health and Safety Code.