H-4899.1          _______________________________________________

                                  HOUSE BILL 2992

                  _______________________________________________

State of Washington              52nd Legislature             1992 Regular Session

By Representatives H. Sommers and Rasmussen

Read first time 02/24/92.  Referred to Committee on Capital Facilities & Financing.Changing funding mechanisms for water pollution control.

     AN ACT Relating to funding of water pollution control; amending RCW 70.146.080 and 90.50A.020; and declaring an emergency.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

     Sec. 1.  RCW 70.146.080 and 1991 sp.s. c 16 s 923 are each amended to read as follows:

     Within thirty days after June 30, 1987, and within thirty days after each succeeding fiscal year thereafter, the state treasurer shall determine the tax receipts deposited into the water quality account for the preceding fiscal year.  ((If the tax receipts deposited into the account in each of the fiscal years 1988 and 1989 are less than forty million dollars, the state treasurer shall transfer sufficient moneys from general state revenues into the water quality account to bring the total receipts in each fiscal year up to forty million dollars.))

     For the biennium ending June 30, 1991, if the tax receipts deposited into the water quality account and the earnings on investment of balances credited to the account are less than ninety million dollars, the treasurer shall transfer sufficient moneys from general state revenues into the water quality account to bring the total revenue up to ninety million dollars.  The determination and transfer shall be made by July 31, 1991, but during the 1991-93 biennium the legislature may subsequently direct the treasurer to transfer up to that same amount back to the general fund.

     For fiscal year ((1992)) 1993 and thereafter, if the tax receipts deposited into the water quality account for each fiscal year are less than forty-five million dollars, the ((treasurer shall)) legislature may direct the transfer of sufficient moneys from general state revenues into the water quality account to bring the total revenue to up to forty-five million dollars.  Determinations and transfers shall be made by July 31 for the preceding fiscal year.

     Sec. 2.  RCW 90.50A.020 and 1991 sp.s. c 13 s 102 are each amended to read as follows:

     (1) The water pollution control revolving fund is hereby established in the ((custody of the)) state ((treasurer)) treasury.  Moneys in this fund ((are not subject to)) may be spent only after legislative appropriation.  Moneys in the fund may be spent only in a manner consistent with this chapter.

     (2) The water pollution control revolving fund shall consist of:

     (a) All capitalization grants provided by the federal government under the federal water quality act of 1987;

     (b) All state matching funds appropriated or authorized by the legislature;

     (c) Any other revenues derived from gifts or bequests pledged to the state for the purpose of providing financial assistance for water pollution control projects;

     (d) All repayments of moneys borrowed from the fund;

     (e) All interest payments made by borrowers from the fund;

     (f) Any other fee or charge levied in conjunction with administration of the fund; and

     (g) Any new funds as a result of leveraging.

NEW SECTION. Sec. 3.      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 shall take effect immediately.