6618-S

AN ACT Relating to the measurement of state fiscal conditions and economic performance; adding a new chapter to Title 82 RCW; and creating a new section.

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

NEW SECTION. Sec. 1. The citizens of Washington should enjoy a high quality of life and economic prosperity. To achieve this goal, the legislature recognizes that the state must compete economically at a national and international level. It is critical to the economic well-being of the citizens of this state that the legislature strive to continually improve the state's economic climate. Therefore, the legislature intends to provide a mechanism whereby the information necessary to achieve this goal is available on a timely basis.

NEW SECTION. Sec. 2. (1) The economic climate council is hereby created.

(2) The council shall select a series of no more than ten benchmarks that characterize the competitive environment of the state. The benchmarks should be indicators of the cost of doing business; the education and skills of the work force; a sound infrastructure; and the quality of life. In selecting the appropriate benchmarks, the council shall use the following criteria:

(a) The availability of comparative information for other states and countries; and

(b) The timeliness with which benchmark information can be obtained.

The council shall report to the legislature by September 30, 1996, on the benchmarks selected under this subsection.

(3) Twice each year the council shall prepare an official state economic climate report based on changes in the benchmarks. The reports shall include current benchmark comparisons with other states and countries and an analysis of factors that may change the competitive relationships.

(4) The council shall submit reports prepared under this section to the governor and the fiscal committees of the senate and the house of representatives on or before March 31st and September 30th of each year. The first report shall be made by September 30, 1996.

(5) All agencies of state government shall provide to the council immediate access to all information relating to economic climate reports.

NEW SECTION. Sec. 3. (1) Until July 1, 1997, the economic and revenue forecast council shall, in addition to its other duties and responsibilities, function as the economic climate council created under section 2 of this act.

(2) The staff of the economic and revenue forecast council shall serve as staff to the economic climate council until July 1, 1997, working with the support of staff from the fiscal committees of the senate and the house of representatives and the office of financial management.

(3) By September 30, 1996, the council shall make recommendations to the legislature regarding: (a) Permanent composition of the economic climate council, including the procedures for appointment of members, length of terms, selection of a chair, and reimbursement for expenses or other compensation; and (b) a permanent staffing structure to support the work of the economic climate council.

NEW SECTION. Sec. 4. (1) The council shall create an advisory committee to assist the council in selecting benchmarks and developing economic climate reports and benchmarks. The advisory committee shall consist of no more than seven members. At least two of the members of the advisory committee shall have experience in and represent business, and at least two of the members shall have experience in and represent labor. All of the members of the advisory committee shall have special expertise and interest in the state's economic climate and competitive strategies. Appointments to the advisory committee shall be recommended by the chair of the council and approved by a two-thirds vote of the council. The chair of the advisory committee shall be selected by the members of the committee.

(2) The advisory committee shall meet as determined by the chair of the committee until September 30, 1996, and shall meet at least twice per year thereafter in advance of the economic climate reports due on March 31st and September 30th of each year.

(3) Members of the advisory council shall serve without compensation but shall be reimbursed for travel expenses in accordance with RCW 43.03.050 and 43.03.060 while attending meetings of the advisory committee, sessions of the economic climate council, or on official business authorized by the council.

NEW SECTION. Sec. 5. Sections 1, 2, and 4 of this act shall constitute a new chapter in Title 82 RCW.