Wis. Admin. Code Department of Natural Resources NR 162.01

Current through September 30, 2024

Section NR 162.01 - Types of financial assistance available

The department and DOA may, subject to applicable requirements of ss. 281.58 and 281.59, Stats., and ch. Adm 35, provide to an eligible applicant for a scored project any of the following types of financial assistance unless the project reaches substantial completion more than 3 years prior to the date the applicant submits a complete application for financial assistance under s. NR 162.05 (4) or the applicant already has long-term affordable debt outstanding for a project that is already complete or has reached substantial completion prior to the application submittal date:

(1) Subject to the limits established in s. NR 162.04 (3), the purchase or refinance of a municipality's interim debt.

(2) The guarantee of, or purchase of insurance for, municipal obligations for construction of a treatment works or BMP if the guaranteed or purchased insurance would improve credit market access or reduce interest costs on the municipal obligations.

(3) Loans at or below the market interest rate.

(4) Interest rate subsidies under subch. IV.

(5) Using funds received as federal capitalization grants, any other type of assistance that is consistent with the federal program for state water pollution control revolving funds under 33 USC 1381 to 1387 or any other federal law providing funding for or otherwise relating to that program.

Wis. Admin. Code Department of Natural Resources NR 162.01

CR 03-027: cr. Register November 2003 No. 575, eff. 12-1-03.

Amended by, CR 14-043: cr. Register June 2015 No. 714, eff.7/1/2015.

Adopted by, CR 22-045: cr. Register October 2023 No. 814, eff. 11/1/2023

The language under sub. (5) and under s. 281.58 (6) (b)9, Stats., allows the department to provide principal forgiveness as part of a financial assistance agreement in accordance with 33 USC 1383 (i) (1), which states, "In any case in which a State provides assistance to an eligible recipient under subsection (d), the State may provide additional subsidization, including forgiveness of principal."