H-3235.2 _______________________________________________
HOUSE BILL 2313
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State of Washington 56th Legislature 2000 Regular Session
By Representatives Dunn, Ogden, Carlson, O'Brien and Edwards
Prefiled 12/21/1999. Read first time 01/10/2000. Referred to Committee on Agriculture & Ecology.
AN ACT Relating to the cleanup of hazardous waste; adding a new section to chapter 70.105D RCW; and creating a new section.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1. The legislature finds that hazardous substance cleanup projects exist, and due to their large size the normal biennial appropriation from the local toxics control account is insufficient to meet project funding requirements. The legislature further finds that in these cases the project sponsor may require state financial assistance to successfully address the costs associated with cleaning up the hazardous substances and returning the commercial or industrial property to productive reuse.
It is the intent of the legislature to assist local governments with financing large-scale, multiyear remediation projects through extended grant payments.
NEW SECTION. Sec. 2. A new section is added to chapter 70.105D RCW to read as follows:
(1) The department may enter into contracts with local governments to provide extended grant payments to assist with the financing of large-scale, multiyear remediation projects designed to clean up hazardous substances.
(2) Extended grant payments shall be made annually in equal amounts that are necessary to cover all or part of the principal and interest payments on bonds issued by the local government. The total extended grant payment cannot exceed the allowed percentage of the total eligible cost of the project estimated at the time of design and construction. No contract for extended grant payments shall exceed a period of twenty years.
(3) The department may require repayment of some or all of the extended grant. In determining a repayment schedule, the department shall consider:
(a) The potential increase in market value of the property;
(b) The revenue-generating capacity of the property;
(c) The ability of the local government to participate in the cost of remediation; and
(d) Other factors the department deems necessary to further the purposes of this chapter.
(4) The department shall use repayment of extended grant payments to further the state's goal of equitable sharing of the financial responsibility for environmental remediation projects.
(5) Any moneys appropriated by the legislature from the local toxics control account to the department shall first be used to satisfy the conditions of extended grant payment contracts.
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