(1) The Department for Local Government is authorized and directed to apply for and receive federal funds to be placed in a state account called the gas syst em restoration and development project account, and to provide staff to administer said funds. The funds in this account may be used in any gas system restoration or development project approved by the Gas System Restoration and Development Project Account Review Board. (2) A Gas System Restoration and Development Project Account Review Board is established and shall consist of eight (8) members appointed by the Governor. The board shall be chaired by the commissioner of the Department for Local Government and shall include representatives of the Public Service Commission, state fire marshal, Department for Local Government, Kentucky Infrastructure Authority, banking and finance industry, commercial or industrial consumers, Kentucky Gas Association, and low-income or minority group consumers. Members shall be reimbursed for necessary expenses in attending meetings. (3) The review board shall meet as necessary and shall establish rules for conducting its business. The review board shall consider applications f or loans from the account and approve or disapprove loan applications. No loan shall be considered unless the applicant has complied with all construction and securities requirements of the Public Service Commission. In reviewing loan applications, the rev iew board may request the testimony of the county judge/executive of an affected county and any other witnesses deemed appropriate.
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