The department shall not approve a loan pursuant to Article 7 (commencing with Section 80480) if the total debt against the eligible property subject to the release or threatened release of a hazardous material on which the response action will be taken exceeds 80 percent of the estimated value of the property after all necessary response actions are complete.
Cal. Health & Safety Code § 80505
Conditions for Loan Approval
Known as the Carpenter-Presley-Tanner Hazardous Substance Account Act
The act spans §§ 78000–81050 (357 sections).
Added by Stats. 2022, Ch. 257, Sec. 2
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.