Port district equity fund.
(1) The port district equity fund is created in the custody of the state treasurer. Moneys to the account may consist of appropriations by the legislature, contributions from county and local governments and port districts, and private contributions. Expenditures from the account may only be used to make grants to port districts under RCW 43.330.610. Only the director of the department of commerce or the director's designee may authorize expenditures from the account. The account is subject to the allotment procedures under chapter 43.88 RCW, but an appropriation is not required for expenditures.
(2) The department of commerce shall provide management services for the port district equity fund. The department shall establish procedures for fund management. The department shall develop the grant criteria, monitor the grant program, and select grant recipients.
(3) The department of commerce shall prepare and publish an annual report on its website detailing grants made under this section, the uses to which the grants have been put, and the benefits that have been realized.
[ 2024 c 194 s 6.]
NOTES:
Reviser's note—Sunset Act application: The port district noise mitigation grant program is subject to review, termination, and possible extension under chapter 43.131 RCW, the Sunset Act. See RCW 43.131.429. RCW 53.20.090 is scheduled for future repeal under RCW 43.131.430.
Legislative findings—Intent—2024 c 194: See note following RCW 53.54.030.