AN
ACT Relating to the Hanford area economic investment fund; and amending RCW
43.31.422, 43.31.425, and 43.31.428.
BE IT ENACTED BY THE
LEGISLATURE OF THE STATE OF WASHINGTON:
Sec.
1. RCW
43.31.422 and 1993 c 280 s 44 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 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 after an
affirmative vote of at least six members of the committee created in RCW
43.31.425 on any recommendations 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
43.31.425 and 1991 c 272 s 20 are each amended to read as follows:
The
Hanford area economic investment fund committee ((staffed by the local
associate development organization)) is hereby established.
(1)
The committee shall have eleven members. The governor shall appoint the
members, in consultation with ((the Hanford area associate development
organization and)) Hanford area elected officials, subject to the following
requirements:
(a)
All members shall either reside or be employed within the Hanford area.
(b)
The committee shall have a balanced membership representing one member each
from the elected leadership of Benton county, Franklin county, the city of
Richland, the city of Kennewick, the city of Pasco, a Hanford area port
district, the labor community, and four members from the Hanford area business
and financial community.
(c)
Careful consideration shall be given to assure minority representation on the
committee.
(2)
Each member appointed by the governor shall serve a term of three years, except
that of the members first appointed, four shall serve two-year terms and four
shall serve one-year terms. A person appointed to fill a vacancy of a member
shall be appointed in a like manner and shall serve for only the unexpired
term. A member is eligible for reappointment. A member may be removed by the
governor for cause.
(3)
The governor shall designate a member of the committee as its chairperson. The
committee may elect such other officers as it deems appropriate. Six members
of the committee constitute a quorum and six affirmative votes are necessary
for the transaction of business or the exercise of any power or function of the
committee.
(4)
The members shall serve without compensation, but are entitled to reimbursement
for actual and necessary expenses incurred in the performance of official
duties in accordance with RCW 43.03.050 and 43.03.060.
(5) Members shall not be liable to the state, to the fund, or to
any other person as a result of their activities, whether ministerial or
discretionary, as members except for willful dishonesty or intentional
violations of law. The department may purchase liability insurance for members
and may indemnify these persons against the claims of others.
Sec.
3. RCW
43.31.428 and 1991 c 272 s 21 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 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 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; ((and))
(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.
