(1) Except as provided in subsection (2) and this subsection, an investment may not be made that will result in any one business enterprise or person receiving a benefit from or incurring a debt to the permanent coal tax trust fund the total current accumulated amount of which exceeds 10% of the permanent coal tax trust fund. If an investment results in any one business enterprise or person incurring a debt in excess of 6% of the permanent coal tax trust fund, at least 30% of the debt incurred for the project or enterprise for the coal tax investment that was made to the business enterprise or person must be held by a commercial lender. This subsection does not:
(a) apply to a loan made pursuant to 17-6-317; or
(b) limit the board's authority to make loans to the capital reserve account as provided in 17-6-308 (2).
(2) The total amount of loans made pursuant to 17-6-309 (2) may not exceed $80 million, the total amount of loans made pursuant to 17-6-317 may not exceed $70 million, and a single loan may not be less than $250,000. Except for a loan made pursuant to 17-6-317, a loan may not exceed $16,666 for each job that is estimated to be created. In determining the size of a loan made pursuant to 17-6-309 (2), the board shall consider:
(a) the estimated number of jobs to be created by the project within a 4-year period from the time that the loan is made and the impact of the jobs on the state and the community where the project will be located;
(b) the long-term effect of corporate and personal income taxes estimated to be paid by the business and its employees;
(c) the current and projected ability of the community to provide necessary infrastructure for economic and community development purposes; and
(d) other matters that the board considers necessary.
(3) The total amount of loans made annually pursuant to 17-6-309 (3) may not exceed $50 million. In determining the size of a loan, the board shall consider:
(a) the direct and indirect tax implications to the state if a coal-fired generating unit is retired prematurely;
(b) the current and projected ability of an owner to operate and maintain a coal-fired generating unit; and
(c) other matters that the board considers necessary.