wa-law.org > bill > 2023-24 > HB 2417 > Original Bill
The legislature finds that providing funding to public and private entities for the purposes of the program established in this section will provide a benefit to the public.
Subject to the availability of amounts appropriated for this specific purpose, the department may make loans to public and private entities to develop projects that will implement Washington's stated policy goals relating to the development of a prosperous clean energy economy. The loans may be used to fund all or part of projects for:
Electric vehicle or hydrogen vehicle fleets, charging, or refueling stations;
Siting evaluations and permitting for energy generation or transmission projects that promote the energy reliability goals of chapter 19.405 RCW;
Installation of solar, wind, geothermal, or hydrogen infrastructure to assist with supplying the underlying applicant's energy needs;
Buildout of advanced nuclear reactor technology including, but not limited to, small modular reactors; and
Promoting decarbonization of an applicant's facility.
When soliciting and evaluating proposals, awarding contracts, making loans, and monitoring projects under this section, the department must conduct due diligence activities associated with the use of public funds including, but not limited to, oversight of the project selection process, project monitoring, and ensuring that all applications, contracts, and loan agreements fully comply with all applicable laws including disclosure and conflict of interest statutes.
[Empty]
Pursuant to chapter 42.52 RCW, the ethics in public service act, the department must require a project applicant to identify in application materials any state of Washington employees or former state employees employed by the firm or on the firm's governing board during the past 24 months. Application materials must identify the individual by name, the agency previously or currently employing the individual, job title or position held, and separation date. If it is determined by the department that a conflict of interest exists, the applicant may be disqualified from further consideration for award of funding.
If the department finds, after due notice and examination, that there is a violation of chapter 42.52 RCW, or any similar statute involving a recipient who received funding under this section performing under the terms and conditions of the loan, the department in its sole discretion may cancel the loan by written notice and require the recipient to repay any funds received. The department must reserve its right to pursue all available remedies under law to address the violation and repayment of any canceled loan.
The requirements of this section must be specified in funding agreements issued by the department.
Payments of principal and interest on loans awarded pursuant to this section must be deposited into the development of renewable energy for Washington revolving loan account created in section 2 of this act.
The development of renewable energy for Washington revolving loan account is created in the state treasury. All receipts from: Appropriations and transfers by the legislature; bond proceeds authorized by the legislature; federal funds, grants, and other forms of financial assistance; payment of principal and interest on loans awarded pursuant to section 1 of this act; or any other lawful source must be deposited into the account for uses consistent with this section. Moneys in the account may be spent only after appropriation.
Expenditures from the account may be used only for loan awards made under section 1 of this act, including up to one percent of the costs incurred by the department to administer section 1 of this act.
The department must maintain separate accounting for any federal funds in the account.
(1) All earnings of investments of surplus balances in the state treasury shall be deposited to the treasury income account, which account is hereby established in the state treasury.
(1) All earnings of investments of surplus balances in the state treasury shall be deposited to the treasury income account, which account is hereby established in the state treasury.
(1) All earnings of investments of surplus balances in the state treasury shall be deposited to the treasury income account, which account is hereby established in the state treasury.
(1) Section 3 of this act expires July 1, 2024.
(2) Section 5 of this act takes effect July 1, 2028.
If specific funding for the purposes of this act, referencing this act by bill or chapter number, is not provided by June 30, 2024, in the omnibus appropriations act, this act is null and void.