The CalConserve Water Use Efficiency Revolving Fund is hereby created in the State Treasury. Moneys in the fund are available, upon appropriation by the Legislature, to the department for expenditure in accordance with this division. The department is the state agency responsible for administering the fund.
Part 2CalConserve Water Use Efficiency Revolving Fund
Section § 81020
This law establishes the CalConserve Water Use Efficiency Revolving Fund in the State Treasury. The money in this fund can be used by the department responsible for water conservation, but only when the Legislature approves its use. This department manages how the fund is used.
CalConserve Water Use Efficiency Revolving Fund State Treasury Legislature appropriation fund management water conservation funding state agency department responsibility conservation projects expenditure approval administering funds environmental resources California water fiscal management
Section § 81022
This law explains that money from certain bonds must be allocated to a special fund. These funds are then used by a government department to offer loans and grants. The loans and grants help local agencies with projects aimed at conserving agricultural water, ensuring these efforts align with specific legal guidelines.
The proceeds of any bonds authorized to be issued and available for the purposes of Section 79157 shall be transferred to the fund and used by the department for loans and grants to local agencies to acquire and construct agricultural water conservation projects consistent with Article 3 (commencing with Section 79157) of Chapter 8 of Division 26.
bonds proceeds agricultural water conservation loans and grants local agencies fund transfer water conservation projects Department funding Chapter 8 Division 26 Section 79157 agricultural projects funding government grants water resource management
Section § 81023
This law sets aside $3 million from bond proceeds for loans aimed at water conservation and use efficiency projects, helping meet urban water use targets. The department can give zero-interest loans to local agencies for these projects.
Local agencies must try to recover loan costs, but the department might forgive up to 10% if some costs can't be recouped. Additionally, if the local agency is an urban retail water supplier, they can work with the department to create a repayment schedule.
(a)CA Water Code § 81023(a) Consistent with Division 26.7 (commencing with Section 79700), the sum of three million dollars ($3,000,000) of the proceeds of bonds authorized to be issued and available for the purposes of Section 79746 shall be transferred to the fund and used by the department, upon appropriation, for loans for water conservation and water use efficiency projects and programs to achieve urban water use targets developed pursuant to Section 10608.20.
(b)CA Water Code § 81023(b) The department may implement this section by providing to a local agency a zero-interest loan.
(c)CA Water Code § 81023(c) A local agency that receives a loan pursuant to this section shall
exercise reasonable efforts to recover the costs of the loan. However, the department may waive up to 10 percent of the repayment amount for costs that could not be recovered by the local agency.
(d)CA Water Code § 81023(d) The department and a local agency that is an urban retail water supplier and that receives a loan pursuant to this section may enter into a mutually agreeable schedule for making loan repayments into the fund.
water conservation loans zero-interest loan urban water use targets water use efficiency projects local agency loan cost recovery efforts loan repayment schedule water use efficiency funding bond proceeds loan forgiveness up to 10% urban retail water supplier
Section § 81024
This section outlines what the department can do to manage water funding and resources. They can add money to the fund, partner with local water agencies for loans, and manage financial reports for the fund. They can also request federal money, strike deals with the federal government for extra funds, and provide technical help to local agencies.
The department may undertake any of the following:
(a)CA Water Code § 81024(a) Provide for the deposit of any available and necessary moneys into the fund.
(b)CA Water Code § 81024(b) Enter into agreements with local agencies that provide water or recycled water service to provide loans for the purposes described in subdivision (b) of Section 81000.
(c)CA Water Code § 81024(c) Provide for appropriate audit, accounting, and fiscal management services, plans, and reports relative to the fund.
(d)CA Water Code § 81024(d) Take additional incidental action as appropriate for the adequate administration and operation of the fund.
(e)CA Water Code § 81024(e) Make requests on behalf of the state for deposit into the fund of available federal moneys.
(f)CA Water Code § 81024(f) Enter into agreements with the federal government for federal contributions to the fund.
(g)CA Water Code § 81024(g) Accept federal contributions to the fund.
(h)CA Water Code § 81024(h) Provide technical assistance to local agencies.
water funding recycled water service financial management federal contributions local water agencies loan agreements fund administration technical assistance audit services fiscal management federal agreements deposit management fund operation federal money requests money allocation
Section § 81026
This law outlines conditions under which a state department in California can make agreements with the federal government to receive federal funds. The state must first identify any necessary matching funds and agree to spend a minimum amount as required by the federal government. The agreement must also comply with all federal terms and conditions, including spending the funds promptly.
(a)CA Water Code § 81026(a) The department may enter into an agreement with the federal government for federal contributions to the fund only if both of the following conditions are met:
(1)CA Water Code § 81026(a)(1) The state identifies any required matching funds.
(2)CA Water Code § 81026(a)(2) The department is prepared to commit to the expenditure of any minimum amount in the fund in the manner required by the federal government.
(b)CA Water Code § 81026(b) Any agreement between the department and the federal government shall contain those provisions, terms, and conditions required by the federal government and any implementing federal rules, regulations, guidelines, and policies, including, but not limited
to, agreement to expend moneys in the fund in an expeditious and timely manner.
federal contributions fund matching state department agreements federal fund expenditure expeditious spending federal government conditions fund allocation California state funding federal funding requirements state-federal agreements timely expenditure fund management implementing federal rules spending guidelines
Section § 81030
This law explains how the money in a specific fund should be used. Firstly, it allows for loans to local agencies under certain conditions, like having low interest rates, requiring annual payments, and ensuring full repayment within 20 years or 25 years for disadvantaged communities. Loan recipients need to have a dedicated repayment source. Secondly, the fund can be used to guarantee or buy insurance for local debt to improve access to credit or lower interest rates. Additionally, it can provide security for state bonds, earn interest, offer technical assistance, cover administrative costs (limited to 4% of the fund), and provide various financial aids like grants or interest forgiveness if authorized by federal grants.
Moneys in the fund shall be used for the following purposes:
(a)CA Water Code § 81030(a) Loans to local agencies that meet all of the following requirements:
(1)CA Water Code § 81030(a)(1) Are made at or below market interest rates.
(2)CA Water Code § 81030(a)(2) Require annual payments of principal and any interest, with repayment commencing not later than one year after loan funding and full amortization not later than 20 years after loan funding. Full amortization for loans to disadvantaged communities shall be not later than 25 years after loan funding.
(3)CA Water Code § 81030(a)(3) Require the loan recipient to establish an acceptable dedicated source of revenue for
repayment of a loan.
(b)CA Water Code § 81030(b) To guarantee, or purchase insurance for, local obligations if that action would improve credit market access or reduce interest rates.
(c)CA Water Code § 81030(c) As a source of revenue or security for the payment of principal and interest on revenue or general obligation bonds issued by the state, if the proceeds of the sale of those bonds will be deposited in the fund.
(d)CA Water Code § 81030(d) To earn interest.
(e)CA Water Code § 81030(e) Technical assistance.
(f)CA Water Code § 81030(f) For payment of the department’s reasonable costs of administering the fund, not to exceed 4 percent of the fund.
(g)CA Water Code § 81030(g) Grants, principal forgiveness, negative interest rates, and any other type of, or
variation on, the types of assistance described in this section that is authorized by a federal capitalization grant deposited in the fund to the extent authorized and funded by that federal capitalization grant.
fund usage local agency loans market interest rates loan repayment disadvantaged communities dedicated revenue source local debt insurance credit market access state bonds technical assistance administrative costs federal capitalization grants principal forgiveness negative interest rates financial aid variations
Section § 81033
The law states that any funds given to a local agency under this division cannot be used to cover that agency's administrative expenses.
Funds made available pursuant to this division to a local agency shall not be used for that local agency’s administrative costs.
local agency funds administrative costs prohibited use of funds division funds restriction local government finance fund allocation rules agency funding limitations administrative expense exclusion fund utilization guidelines finance management restrictions
Section § 81035
This law states that any money paid back to a specific fund, including interest and any interest earned on the fund's money, must be put back into the fund. The money in the fund is then available to be used for the purposes specified by this division.
Any repayment of fund moneys, including interest payments, and all interest earned on, or accruing to, any moneys in the fund, shall be deposited in the fund and shall be available for expenditure for the purposes and uses authorized by this division.
repayment of fund interest payments fund expenditures accruing interest money management financial allocation fund reinvestment authorized purposes use of funds division-specific allocation
