FISCAL NOTE

House Bill 34 as introduced allows the Alabama Water Pollution Authority to extend the repayment period of loans issued by the Authority from 20 years currently to a period which does not exceed the expected design life of the project, if required or permitted by the Federal Clear Water Act. This could increase the total amount of interest paid by a city, county, or instrumentality thereof over the repayment period by an undetermined amount dependent upon the terms of the loan. This bill will not otherwise directly affect state or local funding.