California Statutes
§ 80425. — 80425. (Added by Stats. 2022, Ch. 257, Sec. 2.)
California·Code HSC Health and Safety Code - HSC·Div. 45. DIVISION 45. HAZARDOUS SUBSTANCE RESPONSE·Part 2. PART 2. HAZARDOUS SUBSTANCE ACCOUNT·Ch. 10. CHAPTER 10. Cleanup Loans and Environmental Assistance to Neighborhoods·Art. 5. ARTICLE 5. Investigating Site Contamination Program
If a loan recipient who is not the owner of the property and the department determine, after the completion of the preliminary endangerment assessment, that the sum of the cost of remediation and the property purchase price makes the redevelopment of the property not economically feasible, the department may waive the repayment of up to 75 percent of the loan, and the amount waived shall be deemed a grant to the loan recipient. If the department waives the repayment of part of the loan, the recipient shall repay the remaining portion of the loan within one year of that waiver.
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California § 80425. (80425. (Added by Stats. 2022, Ch. 257, Sec. 2.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 2022, Ch. 257, Sec. 2. (AB 2293) Effective January 1, 2023. Operative January 1, 2024, pursuant to Sec. 4 of Stats. 2022, Ch. 257.