(1) By January 1, 2012, the governor on behalf of the state shall enter into a memorandum of agreement that takes effect on April 1, 2012, with the owners of a coal-fired baseload facility in Washington that emitted more than one million tons of greenhouse gases in any calendar year prior to 2008. The memorandum of agreement entered into by the governor may only contain provisions authorized in this section, except as provided under RCW
80.80.120.
(2) The memorandum of agreement must:
(b) Incorporate binding commitments to install selective noncatalytic reduction pollution control technology in any coal-fired generating boilers by January 1, 2013, after discussing the proper use of ammonia in this technology.
(3)(a) The memorandum of agreement must include provisions by which the facility owner will provide financial assistance:
(i) To the affected community for economic development and energy efficiency and weatherization; and
(ii) For energy technologies with the potential to create considerable energy, economic development, and air quality, haze, or other environmental benefits.
(b) Except as described in (c) of this subsection, the financial assistance in (a)(i) of this subsection must be in the amount of thirty million dollars and the financial assistance in (a)(ii) of this subsection must be in the amount of twenty-five million dollars, with investments beginning January 1, 2012, and consisting of equal annual investments through December 31, 2023, or until the full amount has been provided. Only funds for energy efficiency and weatherization may be spent prior to December 31, 2015.
(c) If the tax exemptions provided under RCW
82.08.811 or
82.12.811 are repealed, any remaining financial assistance required by this section is no longer required.
(4) The memorandum of agreement must:
(a) Specify that the investments in subsection (3) of this section be held in independent accounts at an appropriate financial institution; and
(b) Identify individuals to approve expenditures from the accounts. Individuals must have relevant expertise and must include members representing the Lewis county economic development council, local elected officials, employees at the facility, and the facility owner.
(5) The memorandum of agreement must include a provision that allows for the termination of the memorandum of agreement in the event the department determines as a requirement of state or federal law or regulation that selective catalytic reduction technology must be installed on any of its boilers.
(6) The memorandum of agreement must include enforcement provisions to ensure implementation of the agreement by the parties.
(7) If the memorandum of agreement is not signed by January 1, 2012, the governor must impose requirements consistent with the provisions in subsection (2)(b) of this section.