WA SB5208

Creates a Clean Energy Fund loan program administered by the Department of Commerce to support projects including electric/hydrogen vehicles and infrastructure, solar/wind/geothermal installations, advanced nuclear reactor development (including small modular reactors), grid modernization, and agricultural clean energy technology

Establishes a Clean Energy Fund Account in the state treasury funded by appropriations, bond proceeds, federal funds, and loan repayments, with up to 1% available for administrative costs

Eligible loan recipients include businesses, electric utilities, nonprofit corporations, joint operating agencies, political subdivisions, and national laboratories with Washington facilities

Sets loan interest rates at reduced/capped rates for public entities (modeled on existing state loan programs) and minimum of US prime rate plus 2% for private entities

Department must distribute funds proportionally among the greatest number of eligible projects each cycle and may cancel loans and require repayment for ethics or disclosure law violations