The small business environmental improvement loan account is established in the environmental fund. Repayments of loans made under section 116.993 must be credited to this account. This account replaces the small business environmental loan account in Minnesota Statutes 1996, section 116.992, and the hazardous waste generator loan account in Minnesota Statutes 1996, section 115B.224. The account balances and pending repayments from the small business environmental loan account and the hazardous waste generator account will be credited to this new account. Money in the account is appropriated to the commissioner for loans under this section.