Section 70.148.020. Pollution liability insurance program trust account.

(1) The pollution liability insurance program trust account is established in the custody of the state treasurer. All funds appropriated for this chapter and all premiums collected for reinsurance shall be deposited in the account. Except as provided in chapter 70.340 RCW, expenditures from the account shall be used exclusively for the purposes of this chapter including payment of costs of administering the pollution liability insurance and underground storage tank community assistance programs. Expenditures for payment of administrative and operating costs of the agency are subject to the allotment procedures under chapter 43.88 RCW and may be made only after appropriation by statute. No appropriation is required for other expenditures from the account.

(2) Each calendar quarter, the director shall report to the insurance commissioner the loss and surplus reserves required for the calendar quarter. The director shall notify the department of revenue of this amount by the fifteenth day of each calendar quarter.

(3) During the 2015-2017 fiscal biennium, the legislature may transfer from the pollution liability insurance program trust account to the underground storage tank revolving account such amounts as reflect the excess fund balance of the account.

(4) This section expires July 1, 2030.

[ 2016 1st sp.s. c 35 § 6013; 2016 c 161 § 15; 2013 2nd sp.s. c 4 § 993; 2012 1st sp.s. c 3 § 1; 2006 c 276 § 1; 2005 c 518 § 942; 1999 c 73 § 1; 1998 c 245 § 114; 1991 sp.s. c 13 § 90; 1991 c 4 § 7; 1990 c 64 § 3; 1989 c 383 § 3.]

NOTES:

Reviser's note: (1) This section was amended by 2016 c 161 § 15 and by 2016 1st sp.s. c 35 § 6013, each without reference to the other. Both amendments are incorporated in the publication of this section under RCW 1.12.025(2). For rule of construction, see RCW 1.12.025(1).

(2) Pursuant to RCW 43.135.041, chapter 3, Laws of 2012 1st special session was subject to an advisory vote of the people in the November 2012 general election on whether the tax increase in such session law should be maintained or repealed. The advisory vote was in favor of repeal.

Effective date—2016 1st sp.s. c 35: See note following RCW 28B.10.027.

Effective dates—2013 2nd sp.s. c 4: See note following RCW 2.68.020.

Severability—Effective date—2005 c 518: See notes following RCW 28A.500.030.

Effective dates—Severability—1991 sp.s. c 13: See notes following RCW 18.08.240.

2016 1st sp.s. c 35 § 6013; 2016 c 161 § 15; 2013 2nd sp.s. c 4 § 993; 2012 1st sp.s. c 3 § 1; 2006 c 276 § 1; 2005 c 518 § 942; 1999 c 73 § 1; 1998 c 245 § 114; 1991 sp.s. c 13 § 90; 1991 c 4 § 7; 1990 c 64 § 3; 1989 c 383 § 3.