Committee hears DNRC loans program bill backing coal-severance bonds for irrigation loans
House Bill 8 would reauthorize and provide state-backed loans for irrigation and other renewable-resource projects through DNRC, using coal-severance tax–backed bonds and subsidized interest rates.
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Representative John Fitzpatrick presented House Bill 8, which would authorize loans under the renewable-resource loan program administered by the Department of Natural Resources and Conservation (DNRC). Fitzpatrick said the program has operated since 1993 and combines prior public-loan programs; the bill authorizes up to $133 million in loans, including roughly $36.6 million in new projects and $84.6 million in reauthorizations of previously approved loans, plus bond reserves.
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