Loans

(a) Under the Sustainable Building Maintenance Program for State-Supported Institutions of Higher Education, the Division of Higher Education may authorize money to be loaned from the Sustainable Building Maintenance Program for State-Supported Institutions of Higher Education Revolving Loan Fund, § 19-5-1285 , to a state-supported institution of higher education. (b) A loan from the fund made under subsection (a) of this section shall be: (1) For: (A) Deferred maintenance; (B) Critical maintenance; or (C) A renovation of state-owned property; and (2) In an amount that exceeds one hundred thousand dollars ($100,000). (c) The term for repayment of a loan from the fund made under subsection (a) of this section shall not exceed ten (10) years. Added by Act 2023, No. 751,§ 1, eff. 8/1/2023. (a) Under the Sustainable Building Maintenance Program for State-Supported Institutions of Higher Education, the Division of Higher Education may authorize money to be loaned from the Sustainable Building Maintenance Program for State-Supported Institutions of Higher Education Revolving Loan Fund, § 19-5-1285 , to a state-supported institution of higher education. (b) A loan from the fund made under subsection (a) of this section shall be: (1) For: (A) Deferred maintenance; (B) Critical maintenance; or (C) A renovation of state-owned property; and (2) In an amount that exceeds one hundred thousand dollars ($100,000). (1) For: (A) Deferred maintenance; (B) Critical maintenance; or (C) A renovation of state-owned property; and (A) Deferred maintenance; (B) Critical maintenance; or (C) A renovation of state-owned property; and (2) In an amount that exceeds one hundred thousand dollars ($100,000). (c) The term for repayment of a loan from the fund made under subsection (a) of this section shall not exceed ten (10) years. Added by Act 2023, No. 751,§ 1, eff. 8/1/2023.