This bill authorizes the Department of Natural Resources and Conservation (DNRC) to provide loans for various renewable resource projects, with a total loan amount not exceeding $121,198,444. The loans will be funded through the issuance of coal severance tax bonds, with an interest rate set at 3.0% or the rate at which the state bonds are sold, whichever is lower, for a term of up to 30 years. The projects include significant rehabilitation efforts for dams and irrigation systems across several districts, as well as local match funding for regional water projects.

Additionally, the bill reauthorizes certain renewable resource projects that were previously approved but may not meet the necessary requirements to obtain loan funds by the deadline of June 30, 2025. It establishes conditions for loan disbursement, including the approval of project scopes and budgets, documented commitments of other funding, and satisfactory completion of project evaluations. The bill also includes provisions for the management of bond proceeds and the allocation of earnings, ensuring that loan repayments are dedicated to the debt service account for the benefit of the bonds. The act is set to take effect on July 1, 2025.