Section Env-Dw 1405.02 - Loan Forgiveness & Contingent Reimbursement(a) The department shall forgive 10 percent of the loan principal to eligible entities that meet the following disadvantaged affordability criteria: (1) The water system serves residents whose median household income (MHI) is less than the statewide MHI based on the most recent census data or income survey;(2) The water system has a water rate that exceeds 0.8% of the MHI of the system; and(3) At least 50% of the residential units served by the water system must be occupied at least 6 months of the year by a population whose MHI is less than the statewide MHI based on the most recent census data or income survey.(b) Community water systems owned by a county shall be eligible for loan forgiveness if the county MHI is below the statewide MHI.(c) Loan forgiveness shall be applied:(1) At the first repayment for governmental entities; and(2) At each monthly repayment throughout the term of the loan for non-governmental entities.(d) Total loan forgiveness under this section shall not exceed the amount specified in RSA 485-H:5, III for both drinking water pursuant to this chapter and clean water pursuant to Env-Wq 600 combined.(e) Contingent on availability of funds as specified in RSA 485-H:6, the department shall reimburse up to 50 percent of the loan principal to all loan recipients as specified in RSA 485-H:6, II, as follows: (1) If insufficient funds are received by the state to cover 50 percent of the principal, the reimbursement shall be prorated;(2) In no instance shall the loan reimbursement exceed 50 percent of the total loan amount, unless the recipient received loan forgiveness under RSA 485-H:5, in which case the combined maximum shall be 60 percent; and(3) In the event a loan recipient receives compensation from a responsible party, the department shall not grant partial loan forgiveness that in combination with any compensation would exceed 100 percent of the total cost of the remediation.(f) For both governmental and non-governmental entities, contingent reimbursement amounts shall at the time of award be immediately subtracted from the remaining principle and if the remaining principle is less than the award amount then the difference shall be reimbursed.N.H. Admin. Code § Env-Dw 1405.02
Derived from Volume XLI Number 6, Filed February 11, 2021, Proposed by #13164, Effective 1/26/2021, Expires 1/26/2031.