(1) A special account to be known as the state route number 520 civil penalties account is created in the state treasury. All state route number 520 bridge replacement and HOV program civil penalties generated from the nonpayment of tolls on the state route number 520 corridor must be deposited into the account, as provided under RCW 47.56.870(4)(b)(vii). Moneys in the account may be spent only after appropriation. Expenditures from the account must be used to fund legal obligations associated with bonds and loans associated with the construction and operation of state route number 520 under circumstances where the toll revenue collections at the time are not sufficient to fully cover such legal obligations, and then may be used to fund any project within the state route number 520 bridge replacement and HOV program, including mitigation. During the 2013-2015 and 2015-2017 fiscal biennia, the legislature may transfer from the state route number 520 civil penalties account to the state route number 520 corridor account such amounts as reflect the excess fund balance of the state route number 520 civil penalties account. Funds transferred must be used solely for capital expenditures for the state route number 520 bridge replacement and HOV project. The legislature may direct the state treasurer to make transfers of moneys in the state route number 520 civil penalties account to the state route number 520 corridor account. During the 2021-2023 fiscal biennium, the legislature may direct the state treasurer to transfer moneys in the state route number 520 civil penalties account to the motor vehicle account.
(2) For purposes of this section, "legal obligations associated with bonds and loans" includes, but is not limited to, debt service and all other activities necessary to comply with financial covenants associated with state route number 520, costs associated with the civil penalties program, and operation and maintenance costs.
[ 2021 c 333 § 709; 2021 c 136 § 1; 2019 c 416 § 710; 2017 c 313 § 713; 2015 1st sp.s. c 10 § 706; 2013 c 306 § 710; 2011 c 367 § 720; 2010 c 248 § 5.]
NOTES:
Reviser's note: This section was amended by 2021 c 136 § 1 and by 2021 c 333 § 709, 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).
Effective date—2021 c 333: See note following RCW 43.19.642.
Effective date—2021 c 136: "This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and takes effect immediately [April 26, 2021]." [ 2021 c 136 § 2.]
Effective date—2019 c 416: See note following RCW 43.19.642.
Effective date—2017 c 313: See note following RCW 43.19.642.
Effective date—2015 1st sp.s. c 10: See note following RCW 43.19.642.
Effective date—2013 c 306: See note following RCW 47.64.170.
Effective date—2011 c 367: See note following RCW 47.29.170.