(a) The board shall administer the fund in accordance with state law, rules of the
board, and any federal requirements imposed because of a grant of money to the fund
by an agency of the federal government.
(b) The board may execute agreements with the Environmental Protection Agency or any
other federal agency to establish and administer the fund and may discharge the duties
and responsibilities required for the administration of the fund.
(c) The fund consists of money derived from federal grants, from earnings on the investment
of money credited to the fund, and, at the board's discretion, from any other available
(d) The board shall deposit money received for repayment of a plumbing assistance
loan made to a political subdivision in the fund.
(e) At the direction of the governor, any money in the fund may be transferred to
the state water pollution control revolving fund under Subchapter J of this chapter.
(f) The fund remains available in perpetuity for providing loans under this subchapter,
except to the extent that the fund may be reduced or eliminated as provided by this
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