The purpose of leveraging Board funds in the Recycling Market Development Revolving Loan Subaccount (Subaccount) is to increase the funding for loans to recycling-based businesses and to promote the long-term sustainability of the Recycling Market Development Revolving Loan Program. Subaccount funds will be used to stimulate more lending by private banks, public institutions and non-profit organizations than the Board could make on its own to recycling-based businesses.

Note: Authority cited: Section 40502, Public Resources Code. Reference: Sections 42023.1, 42023.6 and 42024, Public Resources Code.

History

1. New article 1.2 (sections 17939.1-17939.5) and section filed 10-18-2005; operative 11-17-2005 (Register 2005, No. 42).