DIVISION 104. ENVIRONMENTAL HEALTH 106500-119406›PART 12. DRINKING WATER 116270-117130›CHAPTER 4.5. Safe Drinking Water State Revolving Fund Law of 1997 116760-116762.60›ARTICLE 7. Safe Drinking Water State Revolving Fund Management 116761.62-116761.86
§ 116761.65
California Health and Safety Code · 2018-11 edition · updated 2026-10-04 · California
(a) The board shall establish, and may periodically adjust, the interest rate for repayable financing made pursuant to this chapter at a rate not to exceed 50 percent of the average interest rate, computed by the true interest cost method, paid by the state on general obligation bonds issued in the prior calendar year, rounded up to the closest one-tenth of 1 percent.
(b) Notwithstanding subdivision (a), if the financing is for a public water system that serves a disadvantaged community with a financial hardship as determined by the board or if the financing is for a public water system that provides matching funds, the interest rate shall be 0 percent.
(Amended by Stats. 2015, Ch. 673, Sec. 16. (AB 1531) Effective January 1, 2016.)
Get a plain-English answer with a citation back to this text.
Ask AI about this code