(a) There is established in the state treasury the brownfields cleanup revolving loan fund, into which shall be deposited:
Terms Used In Hawaii Revised Statutes 201-18
- Contract: A legal written agreement that becomes binding when signed.
- Department: means the department of business, economic development, and tourism. See Hawaii Revised Statutes 201-1
All environmental site assessments and response activities and entities receiving funding shall be subject to the eligibility requirements of, and conducted 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 Title 40 of the 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 lesser of ten per cent of the loan or subgrant amount or the percentage of the loan or subgrant amount set in rules adopted pursuant to this section.
(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 award and disburse moneys from the fund in the form of grants to eligible public or nonprofit entities for brownfields site assessments, cleanup and related activities, or site monitoring activities pursuant to subsection (b). 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 loans under 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.
