Washington Code 43.31.422 – Hanford area economic investment fund
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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 decisions of the committee created in RCW 43.31.425 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. The director of commerce or the director’s designee shall authorize disbursements from the fund with the advice of 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.
NOTES:
Effective date—2011 1st sp.s. c 21: See note following RCW 72.23.025.
Effective date—1993 c 280: See RCW 43.330.902.
Effective dates—1991 c 272: See RCW 81.108.901.
Terms Used In Washington Code 43.31.422
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization