1058-S AMH WANG APPL1

SHB 1058 - H AMD  438  ADOPTED  4-6-91

By Representatives Wang and Holland

     On page 53, line 23, strike everything through "earned." on line 26 and insert "The state treasurer shall develop a distribution mechanism for interest earnings that is consistent with the purposes of this section and that will maximize the daily cash balance of the general fund.  Except as provided in 82.14.050, the state treasurer shall ((distribute, on or before July 20 of each year,)) make a final distribution no later than July 20 of each year of the earnings credited to the treasury income account ((as of June 30 to the funds for the fiscal year in which it was earned)) in the previous fiscal year."

SHB 1058 - H AMD

By Representative Wang

     On page 78, line 20, after "shall", strike "distribute" and insert "shall make a final distribution of"

SHB 1058 - H AMD

By Representative Wang

     On page 79, line 4, after "section." insert "The state treasurer shall develop a distribution mechanism for interest earnings that is consistent with the purposes of this section and that will maximize the daily cash balance of the general fund."

EFFECT:  Directs the treasurer's office to distribute the interest earnings belonging to the general fund in a manner to maximize the daily cash balance in the fund.