CERTIFICATION OF ENROLLMENT
SENATE
BILL 5012
Chapter 73, Laws of 1999
56th Legislature
1999 Regular Session
POLLUTION LIABILITY
INSURANCE TRUST ACCOUNT--ADMINISTRATIVE AND OPERATING COSTS
EFFECTIVE DATE: 7/25/99
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Passed by the Senate March 12,
1999
YEAS 48 NAYS 0
 BRAD
OWEN
President of the Senate
Passed by the House April 8, 1999
YEAS 95 NAYS 0
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CERTIFICATE
I, Tony M. Cook, Secretary of the Senate of the State of Washington,
do hereby certify that the attached is SENATE BILL 5012 as passed by
the Senate and the House of Representatives on the dates hereon set forth.
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CLYDE BALLARD
Speaker of the
House of Representatives
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 TONY M. COOK
Secretary
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FRANK CHOPP
Speaker of the
House of Representatives
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Approved April 22, 1999 Place Style On
Codes above, and Style Off Codes below.
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FILED
April 22, 1999 - 3:35 p.m.
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GARY LOCKE
Governor of the State of Washington
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Secretary of State
State of Washington
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_______________________________________________
SENATE
BILL 5012
_______________________________________________
Passed
Legislature - 1999 Regular Session
State
of Washington 56th Legislature 1999 Regular Session
By
Read
first time 01/11/1999. Referred to Committee on Commerce, Trade, Housing &
Financial Institutions.
Administering the pollution liability insurance program
trust account.
AN
ACT Relating to the pollution liability insurance program trust account;
amending RCW 70.148.020; and providing an expiration date.
BE IT
ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec.
1. RCW
70.148.020 and 1998 c 245 s 114 are each amended to read as follows:
(1)
The pollution liability insurance program trust account is established in the
custody of the state treasurer. All funds appropriated for this chapter and
all premiums collected for reinsurance shall be deposited in the account.
Expenditures from the account shall be used exclusively for the purposes of
this chapter including payment of costs of administering the pollution
liability insurance and underground storage tank community assistance programs.
((The account is subject to allotment procedures under chapter 43.88 RCW.))
Expenditures for payment of ((the costs of administering the program)) administrative
and operating costs of the agency are subject to the allotment procedures under
chapter 43.88 RCW and may be made only after appropriation by statute. No
appropriation is required for other expenditures from the account.
(2)
Each calendar quarter, the director shall report to the insurance commissioner
the loss and surplus reserves required for the calendar quarter. The director
shall notify the department of revenue of this amount by the fifteenth day of
each calendar quarter.
(3)
Each calendar quarter the director shall determine the amount of reserves
necessary to fund commitments made to provide financial assistance under RCW
70.148.130 to the extent that the financial assistance reserves do not
jeopardize the operations and liabilities of the pollution liability insurance
program. The director shall notify the department of revenue of this amount by
the fifteenth day of each calendar quarter. The director may immediately
establish an initial financial assistance reserve of five million dollars from
available revenues. The director may not expend more than fifteen million
dollars for the financial assistance program.
(4)
This section expires June 1, 2001.
Passed the Senate March 12, 1999.
Passed the House April 8, 1999.
Approved by the Governor
April 22, 1999.
Filed
in Office of Secretary of State April 22, 1999.