SENATE BILL REPORT
SB 6504
This analysis was prepared by non-partisan legislative staff for the use of legislative members in their deliberations. This analysis is not a part of the legislation nor does it constitute a statement of legislative intent. |
As of January 28, 2016
Title: An act relating to fiscal matters.
Brief Description: Making appropriations from the budget stabilization account.
Sponsors: Senators Hargrove, Ranker and Hasegawa; by request of Office of Financial Management.
Brief History:
Committee Activity: Ways & Means:
SENATE COMMITTEE ON WAYS & MEANS |
Staff: Steve Jones (786-7440)
Background: The Budget Stabilization Account, commonly known as the Rainy Day Fund, is an account established in the state Constitution. Each fiscal year, 1 percent of general state revenues is deposited into the account. In addition, each fiscal biennium in which the state receives extraordinary revenue growth, three-fourths of that extraordinary revenue is deposited into the account. "Extraordinary revenue growth" is defined as the amount by which state biennial revenue growth exceeds by one-third the average biennial growth over the prior five fiscal biennia.
Moneys in the Budget Stabilization Account may be appropriated by the Legislature under one of the following three circumstances:
by a majority vote of each house of the Legislature if the Governor declares an emergency resulting from a catastrophic event requiring governmental action to protect life or public safety;
by a majority vote of each house of the Legislature, if annual state employment growth is forecasted to be less than 1 percent; or
by a three-fifths vote of each house of the Legislature, for any other purpose.
If moneys are appropriated as a result of a declaration of emergency under (1) above, the appropriation must be via separate legislation, and the expenditures are limited to the purposes of the emergency.
On June 26, 2015, the Governor declared a state of emergency resulting from drought conditions and multiple wildfires. Resources from various state agencies were mobilized to respond to the wildfires.
Summary of Bill: Moneys are appropriated from the Budget Stabilization Account for fiscal year 2016 to pay for the fire suppression costs of the following state agencies:
Department of Natural Resources, $150,169,000;
Department of Fish and Wildlife, $432,000; and
Washington State Patrol, $27,645,000
Appropriation: $178.2 million from the Budget Stabilization Account.
Fiscal Note: Not requested.
Committee/Commission/Task Force Created: No.
Effective Date: The bill contains an emergency clause and takes effect immediately.