Section 159G-36 - Limits on loans and grants(a) CWSRF and DWSRF. - Federal law governs loans and grants from the CWSRF and the DWSRF. An award of a loan or grant from one of these accounts must be consistent with federal law.(b) Certain Reserve Cost Limit. - The amount of a loan or grant from the Wastewater Reserve or the Drinking Water Reserve may not exceed the construction costs of a project. A loan or grant from one of these Reserves is available only to the extent that other funding sources are not reasonably available to the applicant.(b1) Viable Utility Reserve Cost Limit. - The amount of a grant from the Viable Utility Reserve shall not exceed the construction costs of a project. A grant from this Reserve is available only to the extent that other funding sources are not reasonably available to the applicant.(c) Certain Reserve Recipient Limit. - The following limits apply to the loan or grant types made from the Wastewater Reserve or the Drinking Water Reserve to the same local government unit or nonprofit water corporation: (1) The amount of loans awarded for a fiscal year may not exceed three million dollars ($3,000,000).(2) The amount of loans awarded for three consecutive fiscal years for targeted interest rate projects may not exceed three million dollars ($3,000,000).(3) The amount of project grants awarded for three consecutive fiscal years may not exceed three million dollars ($3,000,000).(4) The amount of merger/regionalization feasibility grants awarded for three consecutive fiscal years may not exceed fifty thousand dollars ($50,000).(5) The amount of asset inventory and assessment grants awarded for three consecutive fiscal years may not exceed one hundred fifty thousand dollars ($150,000).(d) Viable Utility Reserve Recipient Limit. - Grants under the Viable Utility Reserve are limited as follows: (1) Grants for the purposes set forth in subdivisions (1) through (5) of G.S.159-32(d) shall not exceed fifteen million dollars ($15,000,000) to any single local government unit. Where two or more local government units are merging into a single utility, the total grant awarded shall not exceed thirty million dollars ($30,000,000).(2) Grants for the purpose set forth in G.S. 159G-32(d)(6) to any single local government unit shall not exceed seven hundred fifty thousand dollars ($750,000) in any fiscal year.N.C. Gen. Stat. § 159G-36
Amended by 2024 N.C. Sess. Laws 45,s. 14, eff. 6/28/2024.Amended by 2023 N.C. Sess. Laws 134,s. 12.3-b, eff. 7/1/2023.Amended by 2020 N.C. Sess. Laws 79, s. 1-h, eff. 7/1/2020.Amended by 2015 N.C. Sess. Laws 241, s. 14.13-i, eff. 7/1/2015.Added by 2005 N.C. Sess. Laws 454, s. 3, eff. 1/1/2006.