California Health and Safety Code

§ 25299.104

HSC § 25299.104 Effective Jun 27, 2025Div. 20 · Ch. 6.76

Statute text

(a)The minimum amount that the board may loan an applicant is ten thousand dollars ($10,000), and the maximum amount that the board may loan an applicant is seven hundred fifty thousand dollars ($750,000).

(b)The term of the loan shall be for a maximum of 20 years if secured by real property, and for 10 years if not secured by real property. The interest rate for loans shall be set at the rate equal to one-half of the most recent general obligation bond rate obtained by the office of the Treasurer at the time of the loan commitment.

(c)(1) Loan funds may be used to finance up to 100 percent of the costs necessary to upgrade, remove, or replace project tanks, to comply with Chapter 6.7 (commencing with Section 25280), Section 41954, and implementing regulations.

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Legislative history

Amended by Stats. 2025, Ch. 14, Sec. 4. (SB 124) Effective June 27, 2025. Repealed as of January 1, 2036, pursuant to Section 25299.117.