| Passed by the House February 13, 2004 Yeas 95 FRANK CHOPP ________________________________________ Speaker of the House of Representatives Passed by the Senate March 3, 2004 Yeas 48 BRAD OWEN ________________________________________ President of the Senate | I, Richard Nafziger, Chief Clerk of the House of Representatives of the State of Washington, do hereby certify that the attached is HOUSE BILL 2612 as passed by the House of Representatives and the Senate on the dates hereon set forth. RICHARD NAFZIGER ________________________________________ Chief Clerk | |
| Approved March 22, 2004. GARY F. LOCKE ________________________________________ Governor of the State of Washington | March 22, 2004 - 5:23 p.m. Secretary of State State of Washington |
| State of Washington | 58th Legislature | 2004 Regular Session |
Read first time 01/16/2004. Referred to Committee on Technology, Telecommunications & Energy.
AN ACT Relating to the Hanford area economic investment fund; and amending RCW 43.31.422 and 43.31.428.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1 RCW 43.31.422 and 1998 c 76 s 1 are each amended to read
as follows:
The Hanford area economic investment fund is established in the
custody of the state treasurer. Moneys in the fund shall only be used
for reasonable assistant attorney general costs in support of the
committee or pursuant to the ((recommendations)) decisions of the
committee created in RCW 43.31.425 ((and the approval of the director
of community, trade, and economic development)) for Hanford area
revolving loan funds, Hanford area infrastructure projects, or other
Hanford area economic development and diversification projects, but may
not be used for government or nonprofit organization operating
expenses. Up to five percent of moneys in the fund may be used for
program administration. For the purpose of this chapter "Hanford area"
means Benton and Franklin counties. ((Disbursements from the fund
shall be on the authorization of)) The director of community, trade,
and economic development or the director's designee shall authorize
disbursements from the fund after an affirmative vote of at least six
members of the committee created in RCW 43.31.425 on any
((recommendations)) decisions reached by the committee created in RCW
43.31.425. The fund is subject to the allotment procedures under
chapter 43.88 RCW, but no appropriation is required for disbursements.
The legislature intends to establish similar economic investment funds
for areas that develop low-level radioactive waste disposal facilities.
Sec. 2 RCW 43.31.428 and 1998 c 76 s 3 are each amended to read
as follows:
The Hanford area economic investment fund committee created under
RCW 43.31.425 may:
(1) Adopt bylaws for the regulation of its affairs and the conduct
of its business;
(2) Utilize the services of other governmental agencies;
(3) Accept from any federal or state agency loans or grants for the
purposes of funding Hanford area revolving loan funds, Hanford area
infrastructure projects, or Hanford area economic development projects;
(4) ((Recommend to the director)) Adopt rules for the
administration of the program, including the terms and rates pertaining
to its loans, and criteria for awarding grants, loans, and financial
guarantees;
(5) ((Recommend to the director)) Adopt a spending strategy for the
moneys in the fund created in RCW 43.31.422. The strategy shall
include five and ten year goals for economic development and
diversification for use of the moneys in the Hanford area;
(6) Recommend to the director no more than two allocations eligible
for funding per calendar year, with a first priority on Hanford area
revolving loan allocations, and Hanford area infrastructure allocations
followed by other Hanford area economic development and diversification
projects if the committee finds that there are no suitable allocations
in the priority allocations described in this section;
(7) Establish and administer a revolving fund consistent with this
section and RCW 43.31.422 and 43.31.425; and
(8) Make grants from the Hanford area economic investment fund
consistent with this section and RCW 43.31.422 and 43.31.425.