S-299                 _______________________________________________

                                                   SENATE BILL NO. 5005

                        _______________________________________________

State of Washington                              50th Legislature                              1987 Regular Session

By Senators Moore and McDermott

Prefiled with Secretary of the Senate 12/22/86.  Read first time 1/12/87 and referred to Committee on Ways & Means.

AN ACT Relating to aquatic land revenues; and amending RCW 79.24.580.

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

        Sec. 1.  Section 9, chapter 167, Laws of 1961 as last amended by section 79, chapter 57, Laws of 1985 and RCW 79.24.580 are each amended to read as follows:

(1) After deduction for management costs as provided in RCW 79.64.040 and payments to towns under RCW 79.92.110(2), all moneys received by the state from the sale or lease of state-owned aquatic lands, except for funds generated by leasing for houseboat sites between Chittenden Locks and the Montlake Cut, and from the sale of valuable material from state-owned aquatic lands shall be distributed as follows:  (((1))) (a) Forty percent shall be deposited in the aquatic lands enhancement account which is hereby created in the state treasury.  After appropriation, these funds shall be used solely for aquatic lands enhancement projects; for the purchase, improvement, or protection of aquatic lands for public purposes; for providing and improving access to such lands; and for volunteer cooperative fish and game projects; and (((2))) (b) the remainder shall be deposited in the capitol purchase and development account in the state treasury which is hereby authorized or, in the event that revenue bonds are issued as authorized by RCW 79.24.630 through 79.24.647, into the state building bond redemption fund pursuant to RCW 79.24.638.  All earnings of investments of balances in the aquatic lands enhancement account and the capitol purchase and development account shall be credited to the general fund.

(2) All moneys received from the leasing of state-owned aquatic lands for houseboat sites between Chittenden Locks and the Montlake Cut shall be deposited in the houseboat water quality account hereby created.  After appropriation, these funds shall be used by the department of ecology solely to enhance the water quality in and around these sites leased for houseboats.