SB 5454 - DIGEST

(SUBSTITUTED FOR - SEE 1ST SUB)

     Provides adequate financial resources to local governments and other entities to achieve full implementation of and compliance with the Puget Sound plan and to keep and create environmentally sound, high wage, and stable employment in the state.

     Creates the Puget Sound restoration account, designates the tax receipts to be placed in the account, and designates the distribution formula for the funds.

     Imposes taxes on sewerage collection, storm and surface water drainage control, the sale of fuel for marine use, and the manufacture of motor vehicles.

     Establishes criteria for grants or loans for restoration projects.

     Revises excise tax provisions and distribution directives for the Puget Sound restoration account.

     Extends the termination date of the Puget Sound water quality authority to June 30, 1999.