(1) The Water Quality Board may make a loan from the Utah Wastewater Loan Program Subaccount created in Subsection 73-10c-5(2)(a) or from the Utah State Revolving Fund for Wastewater Projects Subaccount created in Subsection 73-10c-5(2)(b) or a grant from the Hardship Grant Program for Wastewater Projects Subaccount created in Subsection 73-10c-5(2)(c) to a political subdivision, individual, corporation, association, state or federal agency, or other private entity to acquire, construct, or implement a nonpoint source project.
(2) The Water Quality Board may only award a loan or grant for a nonpoint source project that will achieve one or more of the following objectives:
(a) abate or reduce raw sewage discharges;
(b) repair or replace failing individual on-site wastewater disposal systems;
(c) abate or reduce untreated or uncontrolled runoff;
(d) improve critical aquatic habitat resources;
(e) conserve soil, water, or other natural resources;
(f) protect and improve ground water quality;
(g) preserve and protect the beneficial uses of waters of the state;
(h) reduce the number of water bodies not achieving water quality standards;
(i) improve watershed management; or
(j) prepare and implement total maximum daily load (TMDL) assessments.
(3) The Water Quality Board shall:
(a) determine the amount, term, and interest rate for each loan made under this section;
(b) assure that adequate security is obtained for each loan;
(c) establish criteria and procedures for determining priority nonpoint source projects and award loans in accordance with those priorities; and
(d) make rules to implement this section in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act.