SB 6732-S - DIGEST

(DIGEST OF PROPOSED 1ST SUBSTITUTE)

Creates the water supply account in the custody of the state treasurer.

Requires the department of community, trade, and economic development to provide grants from the water supply account created in this act to any county-based economic development agency that makes application for such grants, to the extent such funds are available.

Provides that, an economic development agency receiving a grant under this act may only use the grant to acquire, lease, or otherwise obtain water for economic development purposes.