[§201-18]  Brownfields cleanup revolving
loan fund.  (a)  There is established in the state treasury the brownfields
cleanup revolving loan fund, into which shall be deposited:



(1)  Funds from federal or private funding sources;



(2)  Moneys received as repayment of loans and
interest payments; and



(3)  Any fees collected by the department under this
section.



(b)  Moneys in the brownfields cleanup
revolving loan fund shall be used to provide low interest loans or other
authorized financial assistance to eligible public, private, and nonprofit
borrowers for cleanup activities of contaminated sites, and site monitoring
activities necessary to determine the effectiveness of a cleanup.  All
environmental response activities receiving funding shall be in accordance with
the Comprehensive Environmental Response, Compensation, and Liability Act of
1980, P.L. 96-510 (42 U.S.C. §§9601-9675), as amended, and shall be consistent
with the National Oil and Hazardous Substances Pollution Contingency Plan at 40
Code of Federal Regulations Part 300.  Moneys from the fund may be used to
cover administrative and legal costs of fund management and site management
associated with individual loans, to include personnel, services, materials,
equipment, and travel for the purposes of this section; provided that the
moneys used for these purposes shall not exceed the amounts allowed by the
United States Environmental Protection Agency's Brownfields Cleanup Revolving
Loan Fund Pilot Program.



(c)  The fund shall be administered by the
department of business, economic development, and tourism.  Appropriations or
authorizations from the fund shall be expended by the department.  The
department may contract with other public or private entities for the provision
of all or a portion of the services necessary for the administration and
implementation of the loan fund program.  The department may set fees or
charges for fund management and technical site assistance provided under this
section.  The department may adopt rules pursuant to chapter 91 to carry out
the purposes of this section.



(d)  All interest earned on the deposit or
investment of the moneys in the fund shall become a part of the fund.



(e)  The department shall provide an annual
report to the governor and the legislature describing all transactions and
activities involved in the administration of the brownfields cleanup revolving
loan fund. [L 2002, c 173, §2; am L 2007, c 20, §2]