Z-0317.3 _______________________________________________
HOUSE BILL 1277
_______________________________________________
State of Washington 52nd Legislature 1991 Regular Session
By Representatives Grant, May, H. Myers, Hochstatter, Paris and Jacobsen; by request of Washington State Energy Office.
Read first time January 25, 1991. Referred to Committee on Energy & Utilities.
AN ACT Relating to the geothermal account; and amending RCW 43.140.900 and 28A.515.320.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
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, or when thirty
megawatts of geothermal power is certified as commercially available by the
receiving utilities and the state energy office, whichever is sooner.
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, or
when thirty megawatts of geothermal power is certified as commercially
available by the receiving utilities and the state energy office, whichever is
sooner, 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.