Cal. Code Regs. tit. 22 § 68203

Current through Register 2024 Notice Reg. No. 45, November 8, 2024

Section 68203 - Loan Amounts; Interest

(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.

Cal. Code Regs. Tit. 22, § 68203

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section 25395.29, a Certificate of Compliance must be transmitted to OAL by 7-17-2001 or emergency language will be repealed by operation of law on the following day.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section 25395.29, a Certificate of Compliance must be transmitted to OAL by 1-14-2002 or emergency language will be repealed by operation of law on the following day.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 Certificate of Compliance as to 7-6-2001 order transmitted to OAL 1-14-2002; Certificate of Compliance withdrawn from review 2-27-2002. Repealed by operation of Government Code section 11346.1(g) (Register 2002, No. 9).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section 25395.29, a Certificate of Compliance must be transmitted to OAL by 8-28-2002 or emergency language will be repealed by operation of law on the following day.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.

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).