Section 324.5202 - Strategic water quality initiatives loan program; establishment; purpose; asset management program; content; criteria; interest rate(1) The authority in consultation with the department shall establish a strategic water quality initiatives loan program. This loan program shall provide low interest loans to municipalities to provide assistance for 1 or more of the following: (a) Improvements to reduce or eliminate the amount of groundwater or storm water entering a sanitary sewer lead or a combined sewer lead.(b) Upgrades or replacements of failing on-site septic systems that are adversely affecting public health or the environment, or both.(c) Project costs of the municipality related to testing, demonstration, and construction activities as defined in section 5301(d) for innovative wastewater and storm water technologies approved by the department.(d) Assistance for construction activities as defined in section 5301(d) designed to protect water quality, including improvements that are water or energy efficient, where feasible, when identified through an asset management program or a project identified in an approved storm water management plan.(2) The department shall develop criteria specifying the content of an asset management program.(3) In implementing the loan program, the department shall annually establish the interest rate that will be charged for loans.Amended by 2012, Act 511,s 2, eff. 1/2/2013.Add. 2002, Act 397, Eff. 11/5/2002.