Bill > SB5208

This bill establishes a new clean energy fund program designed to provide loans to various entities for projects that support Washington's clean energy goals. The department may offer loans for a wide range of activities, including acquiring electric or hydrogen vehicles, developing renewable energy infrastructure, installing solar or wind equipment, advancing nuclear reactor technology, decarbonizing facilities, promoting clean energy research and development, modernizing the electrical grid, and supporting clean energy technology in agriculture and forestry. Eligible loan recipients include businesses, electric utilities, corporations, government agencies, political subdivisions, and national laboratories located in Washington. The bill creates a clean energy fund account in the state treasury, which will receive funding from appropriations, bond proceeds, federal grants, and loan repayments. Loans to public entities may have reduced interest rates, while loans to private entities must have interest rates at least two percent above the prime rate. The department is required to conduct due diligence and can cancel loans if legal violations occur. The bill emphasizes supporting Washington's environmental policies, particularly the state's emissions reduction goals, and ensures that loan distribution is proportional across different types of eligible projects. The clean energy fund program aims to foster innovation and investment in clean energy technologies while supporting the state's transition to a more sustainable energy economy.

Agriculture and Natural Resources

https://app.leg.wa.gov/billsummary?BillNumber=5208&Year=2025&Initiative=false