Water pollution loan program adopted

A program to fund wastewater treatment efforts was given final approval by the Legislature Feb. 7.

Introduced by Holdrege Sen. Tom Carlson, LB514 authorizes the state Department of Environmental Quality to create and regulate a linked deposit program. The program will promote loans for the construction, rehabilitation and enhancement of water pollution control projects.

The bill also authorizes a portion of loan funds to be deposited with eligible financial institutions in low-yielding deposit accounts, certificates of deposit or other agreed upon deposits for loans at a rate lower than the prevailing rate.

The department also can buy or refinance debt of municipalities for wastewater treatment works under LB514.

Senators passed the bill on a 44-0 vote.