This bill appropriates a total of $28,670,924 from the 2003 and 1992 bond act funds for loans aimed at dam restoration, repair projects, and inland waters projects. Specifically, it allocates $22,431,294 from the 2003 Dam, Lake and Stream Project Revolving Loan Fund and $6,239,630 from the 1992 Dam Restoration and Clean Water Trust Fund. The funds are made available due to project cancellations, withdrawals, cost savings, interest earnings, and loan repayments. The 2003 fund will support 13 loans for private dam owners and local government units, while the 1992 fund will provide four loans to assist private lake associations and similar organizations.

Additionally, the bill stipulates that any unexpended funds after project completion will be returned to their respective funds for re-appropriation, and any changes in project sponsors or sites will require approval from the Joint Budget Oversight Committee. It also allows for the appropriation of any sums that may become available by June 30, 2023, due to interest earnings or loan repayments to fund the projects listed and any additional projects authorized by law. The act is set to take effect immediately upon passage.