1277.E AAS 4/11/91

EHB 1277 - S COMM AMD

By Committee on Energy & Utilities

                                                       Adopted 4/11/91 - Voice Vote

     Strike everything after the enacting clause and insert the following:

     "Sec. 1.  RCW 43.140.900 and 1981 c 158 s 8 are each amended to read as follows:

     This chapter shall terminate on June 30, ((1991)) 2001."

     "Sec. 2.  RCW 28A.515.320 and 1981 c 158 s 6 are each amended to read as follows:

     The common school construction fund is to be used exclusively for the purpose of financing the construction of facilities for the common schools.  The sources of said fund shall be:  (1) Those proceeds derived from sale or appropriation of timber and other crops from school and state land subsequent to June 30, 1965, other than those granted for specific purposes; (2) the interest accruing on the permanent common school fund from and after July 2, 1967, together with all rentals and other revenue derived therefrom and from land and other property devoted to the permanent common school fund from and after July 1, 1967; (3) all moneys received by the state from the United States under the provisions of section 191, Title 30, United State Code, Annotated, and under section 810, chapter 12, Title 16, (Conservation), United States Code, Annotated, except moneys received before June 30, ((1991)) 2001, and when thirty megawatts of geothermal power is certified as commercially available by the receiving utilities and the state energy office, eighty percent of such moneys, under the Geothermal Steam Act of 1970 pursuant to RCW 43.140.030; and (4) such other sources as the legislature may direct.  That portion of the common school construction fund derived from interest on the permanent common school fund may be used to retire such bonds as may be authorized by law for the purpose of financing the construction of facilities for the common schools.

     The interest accruing on the permanent common school fund together with all rentals and other revenues accruing thereto pursuant to subsection (2) of this section prior to July 1, 1967, shall be exclusively applied to the current use of the common schools.

     To the extent that the moneys in the common school construction fund are in excess of the amount necessary to allow fulfillment of the purpose of said fund, the excess shall be available for deposit to the credit of the permanent common school fund or available for the current use of the common schools, as the legislature may direct.  Any money from the common school construction fund which is made available for the current use of the common schools shall be restored to the fund by appropriation, including interest income foregone, before the end of the next fiscal biennium following such use."

     "NEW SECTION. Sec. 3.  A new section is added to chapter 79.12 RCW to read as follows:

     In an effort to increase potential revenue to the goethermal account, the department of natural resources shall, by December 1, 1991, adopt rules providing guidelines and procedures for leasing state-owned land for the development of geothermal resources."

EHB 1277 - S COMM AMD

By Committee on Energy & Utilities

                                                       Adopted 4/11/91 - Voice Vote

     On page 1, line 1 of the title, after "account;" strike the remainder of the title and insert  "amending RCW 43.140.900 and 28A.515.320; and adding a new section to chapter 79.12 RCW."