Honorable Kenneth Armbrister, Chair, Senate Committee on Natural Resources
FROM:
John S. O'Brien, Deputy Director, Legislative Budget Board
IN RE:
SB509 by Armbrister (Relating to the repeal of the restriction on the amount of money in the water infrastructure fund that may be used for certain purposes in a fiscal year.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would repeal language that currently prohibits more than 10 percent of the annual Water Infrastructure budget to be used for (1) grants and/or low-interest loans to political subdivisions outside a Metropolitan Statistical Area or to an economically distressed area; and (2) market or below-market loans for planning and design or other costs related to state or federal regulatory activities.
Since there are no balances currently in the Water Infrastructure Fund, and since the fund currently has no revenue stream, no fiscal impact is expected from passage of the bill.
Local Government Impact
No fiscal implication to units of local government is anticipated.