Chapter 43.378 RCW

ALLOCATION OF REVENUES DERIVED FROM CERTAIN GEOTHERMAL RESOURCES

Sections

43.378.010Purpose of chapter.
43.378.020Geothermal accountCreated.
43.378.030Limitations on distributions from the geothermal account.


Purpose of chapter.

The purpose of this chapter is to provide for the allocation of revenues distributed to the state under section 35 of the Mineral Lands Leasing Act of 1920, as amended (30 U.S.C. Sec. 191), with respect to activities of the United States bureau of land management undertaken pursuant to the Geothermal Steam Act of 1970 (30 U.S.C. Sec. 1001 et seq.) in order to accomplish the following general objectives:
(1) Reduction of dependence on nonrenewable energy and stimulation of the state's economy through development of geothermal energy.
(2) Mitigation of the social, economic, and environmental impacts of geothermal development.
(3) Maintenance of the productivity of renewable resources through the investment of proceeds from these resources.

NOTES:

FindingsIntent2013 c 274: See note following RCW 78.60.030.



Geothermal accountCreated.

(1) There is created the geothermal account in the state treasury. All expenditures from this account are subject to appropriation and chapter 43.88 RCW.
(2) All revenues received by the state treasurer under section 35 of the Mineral Lands Leasing Act of 1920, as amended (30 U.S.C. Sec. 191), with respect to activities of the United States bureau of land management undertaken pursuant to the Geothermal Steam Act of 1970 (30 U.S.C. Sec. 1001 et seq.) shall be deposited in the geothermal account in the state treasury immediately upon receipt.
(3) Expenditures from the account may only be used as provided in RCW 43.378.030.

NOTES:

FindingsIntent2013 c 274: See note following RCW 78.60.030.



Limitations on distributions from the geothermal account.

Distribution of funds from the geothermal account created in RCW 43.378.020 shall be subject to the following limitations:
(1) Seventy percent to the department of natural resources for geothermal exploration and assessment; and
(2) Thirty percent to Washington State University or its statutory successor for the purpose of encouraging the development of geothermal energy.

NOTES:

FindingsIntent2013 c 274: See note following RCW 78.60.030.