(1) The agency shall establish an underground storage tank revolving loan and grant program to provide loans or grants to owners or operators to:
(a) Conduct remedial actions in accordance with chapter
70A.305 RCW, including investigations and cleanups of any release or threatened release of a hazardous substance at or affecting an underground storage tank facility, provided that at least one of the releases or threatened releases involves petroleum;
(b) Upgrade, replace, or permanently close a petroleum underground storage tank system in accordance with chapter
70A.355 RCW or subtitle I of the solid waste disposal act (42 U.S.C., chapter 82, subchapter IX), as applicable;
(c) Install new infrastructure or retrofit existing infrastructure at an underground storage tank facility for dispensing or using renewable or alternative energy for motor vehicles, including electric vehicle charging stations, when conducted in conjunction with either (a) or (b) of this subsection;
(d) Install and subsequently remove a temporary petroleum aboveground storage tank system in compliance with applicable laws, when conducted in conjunction with either (a) or (b) of this subsection;
(e) Conduct remedial actions in accordance with chapter
70A.305 RCW, including investigation and cleanup of any release or threatened releases of petroleum from a heating oil tank; or
(f) Prevent future releases by upgrading, replacing, decommissioning, or removing a heating oil tank.
(2) The maximum amount that may be loaned or granted under this program to an owner or operator for a single underground storage tank facility is two million dollars and for a single heating oil tank seventy-five thousand dollars.