Washington Code 70A.345.040 – Use of funds — Restrictions
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(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 70A.355 RCW or subtitle I of the solid waste disposal act (42 U.S.C., chapter 82, subchapter IX) unless the owner or operator:
Terms Used In Washington Code 70A.345.040
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
(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.
[ 2020 c 20 § 1437; 2016 c 161 § 4. Formerly RCW 70.340.040.]
NOTES:
Effective date—2016 c 161 §§ 1-13: See note following RCW 70A.345.010.