
That is a anti-backfire soleniod. When you turn the key to either run/start it retracts the plunger down so that the main jet gets fuel. When you shut off the equipment the plunger engages (goes up) to shut off the fuel supply to the main jet. As it only shuts off the main jet, and not the fuel supply to the bowl, fuel can still flood or seep into the crankcase if the needle valve/float is not working correctly. Put your hand on the soleniod and have some one turn the key to run, you should hear/feel a click.