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70.340.040 Use of funds—Restrictions.

WA Rev Code § 70.340.040 (2019) (N/A)
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RCW 70.340.040 Use of funds—Restrictions. (Expires July 1, 2030.)

(1) A recipient of a loan or grant may not use these funds to conduct remedial actions of a release or threatened release from a petroleum underground storage tank system requiring financial assurances under chapter 90.76 RCW or subtitle I of the solid waste disposal act (42 U.S.C., chapter 82, subchapter IX) unless the owner or operator:

(a) Agrees to first expend all moneys available under the required financial assurances;

(b) Demonstrates that all moneys available under the required financial assurances have been expended; or

(c) Demonstrates that a claim has been made under the required financial assurances and the claim has been rejected by the provider.

(2) A recipient must use a loan or grant for a project that develops and acquires assets that have a useful life of at least thirteen years.

[ 2016 c 161 § 4.]

NOTES:

Effective date—2016 c 161 §§ 1-13: See note following RCW 70.340.010.

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70.340.050 Program administration—Loan origination fees.