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H.B. 247

             1     

WATER DEVELOPMENT AMENDMENTS

             2     
2011 GENERAL SESSION

             3     
STATE OF UTAH

             4     
Chief Sponsor: Michael E. Noel

             5     
Senate Sponsor: Ralph Okerlund

             6     
             7      LONG TITLE
             8      General Description:
             9          This bill provides for an origination fee for certain federally-funded water development
             10      loans.
             11      Highlighted Provisions:
             12          This bill:
             13          .    provides for an origination fee for certain federally-funded water development
             14      loans; and
             15          .    makes technical changes.
             16      Money Appropriated in this Bill:
             17          None
             18      Other Special Clauses:
             19          None
             20      Utah Code Sections Affected:
             21      AMENDS:
             22          73-10c-10, as last amended by Laws of Utah 2009, Chapter 183
             23     
             24      Be it enacted by the Legislature of the state of Utah:
             25          Section 1. Section 73-10c-10 is amended to read:
             26           73-10c-10. Origination fee.
             27          (1) The Drinking Water Board and the Water Quality Board may establish an

             28      origination fee for a loan to fund the administration of the programs created by this chapter by
             29      following the procedures and requirements of Section 63J-1-504 .
             30          (2) The Drinking Water Board may establish an origination fee for a federally funded
             31      loan to fund the administration of programs allowed by 42 U.S.C. Sec. 300j-12, and regulations
             32      created thereunder, by following the procedures and requirements of Section 63J-1-504 .
             33          [(2) The] (3) An origination fee established in accordance with this section shall be
             34      part of the department fee schedule established under Section 19-1-201 .
             35          [(3)] (4) Notwithstanding the requirements of Section 63J-1-504 , the board shall
             36      deposit [the] a fee paid in accordance with this section in the origination fee subaccount created
             37      in Section 73-10c-5 and use the fee to administer this chapter.
             38          [(4)] (5) The loan recipient may pay the origination fee from the loan proceeds.




Legislative Review Note
    as of 12-21-10 9:01 AM

Office of Legislative Research and General Counsel

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