H-0096.1          _______________________________________________

                                  HOUSE BILL 2038

                  _______________________________________________

State of Washington              52nd Legislature             1991 Regular Session

By Representative H. Sommers.

Read first time February 20, 1991.  Referred to Committee on Capital Facilities & Financing.Including interest in aggregate revenues for determining water quality account transfers.

     AN ACT Relating to the water quality account; and amending RCW 70.146.080.

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

     Sec. 1.  RCW 70.146.080 and 1986 c 3 s 11 are each amended to read as follows:

     Within thirty days after June 30, 1987, and within thirty days after each succeeding fiscal year thereafter, the state treasurer shall determine the tax receipts and earnings on investments of balances deposited into the water quality account for the preceding fiscal year.  If the tax receipts deposited into the account in each of the fiscal years 1988 and 1989 are less than forty million dollars, the state treasurer shall transfer sufficient moneys from general state revenues into the water quality account to bring the total receipts in each fiscal year up to forty million dollars.

     After June 30, 1989, if the tax receipts and earnings on investments of balances deposited into the water quality account for the preceding fiscal year are less than forty‑five million dollars, the state treasurer shall transfer sufficient moneys from general state revenues into the water quality account to bring the total receipts up to forty‑five million dollars.