(1) There is created the geothermal account in the state treasury. All expenditures from this account are subject to appropriation and chapter 43.88
(2) All revenues received by the state treasurer under section 35 of the Mineral Lands Leasing Act of 1920, as amended (30 U.S.C. Sec. 191), with respect to activities of the United States bureau of land management undertaken pursuant to the Geothermal Steam Act of 1970 (30 U.S.C. Sec. 1001 et seq.) shall be deposited in the geothermal account in the state treasury immediately upon receipt.
(3) Expenditures from the account may only be used as provided in RCW 43.378.030