AN ACT Relating to support for economic recovery from natural disasters; and adding a new section to chapter 43.330 RCW.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION.  Sec. 1.  A new section is added to chapter 43.330 RCW to read as follows:

(1) The natural disaster economic recovery account is created in the state treasury to be used only for the purposes of this section.

(2) Expenditures from the account may be made to support the economic recovery and development of an area within the state affected by a natural disaster. Expenditures may be authorized for:

(a) Rebuilding public infrastructure that was destroyed or damaged by a natural disaster;

(b) Economic development projects, including tourism promotion and job creation;

(c) Affordable and transitional housing development;

(d) Small business loans and grant programs; and 

(e) Other assistance projects dedicated to support sustainable economic recovery efforts within the disaster area. 

(3) The funds may be expended from the account only for an area affected by a state of emergency as declared by the governor, pursuant to RCW 43.06.010, due to a natural disaster. More than one area affected by a natural disaster may receive funding at a time, depending on the nature of the disaster. The funding may not supplant other state or federal emergency relief funding or any other funding source. 

(4) Funding may be provided directly to a county, city, or other local subdivision, or a nonprofit organization dedicated to the long-term recovery of an area affected by a natural disaster.

(5) The department must administer the account and must direct the expenditure of funds subject to appropriations by the legislature.

(6) The department may receive private and public grants, donations, and private and public emergency financial aid for the account.

(7) The governor, with a recommendation from the director, may authorize the expenditure of funds provided in subsection (6) of this section.

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