DEPARTMENT OF ENVIRONMENTAL PROTECTION, shall establish
penalties for loan recipients who fail to meet their repayment
obligations under the loan terms.
Section 5. Annual report.
The department, IN CONSULTATION WITH THE DEPARTMENT OF
ENVIRONMENTAL PROTECTION, shall prepare an annual report for the
General Assembly concerning activities and expenditures made
under this act for the preceding year. The report shall include
information concerning all loans made to owners and loan
applications denied.
Section 6. Private Dam Financial Assurance Fund.
(a) Establishment of fund.--The Private Dam Financial
Assurance Fund is established in the State Treasury. All
payments and fees collected by the department under this act
shall be paid into the fund. Money deposited into the fund and
any interest it accrues are appropriated to the department for
use in accordance with this act. AND TO THE DEPARTMENT OF
ENVIRONMENTAL PROTECTION FOR COSTS ASSOCIATED WITH THE ENTRY,
CORRECTION, REPAIR, OPERATION, MAINTENANCE, INSPECTION,
MONITORING OR REMOVAL OF A DAM AS NECESSARY IN RESPONSE TO:
(1) THE FAILURE OF AN OWNER ENROLLED IN THE PROGRAM TO
COMPLY WITH THE ACT OF NOVEMBER 26, 1978 (P.L.1375, NO.325),
KNOWN AS THE DAM SAFETY AND ENCROACHMENTS ACT, OR ANY
REGULATION, PERMIT OR ORDER ISSUED UNDER THAT ACT, WHERE THE
FAILURE OF THE OWNER TO COMPLY CREATES AN UNSAFE CONDITION
UNDER THE DAM SAFETY AND ENCROACHMENTS ACT AND THE
REGULATIONS THEREUNDER; OR
(2) ABANDONMENT OF THE DAM BY AN OWNER ENROLLED IN THE
PROGRAM.
(B) FUND BALANCE AND LOAN PROGRAM.--AT ANY TIME THAT THE
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