FINAL BILL REPORT

                  SSB 5290

                           C 75 L 97

                      Synopsis as Enacted

Brief Description:  Providing that the liquor control board construction and maintenance account retain its earnings.

Sponsors:  Senate Committee on Ways & Means (originally sponsored by Senators West and Spanel; by request of Liquor Control Board).

Senate Committee on Ways & Means

House Committee on Appropriations

Background:  In the 1995 legislative session, the Liquor Control Board was given authority to finance a new distribution center through Certificates of Participation, an alternative financing method.  In order to pay for the debt service and other costs related to the construction of the new distribution center, the Liquor Control Board imposed an additional markup on distilled spirits sold in state liquor stores and agencies on July 1, 1996.  This markup has been deposited into the liquor revolving account.

Summary:  The Liquor Control Board construction and maintenance account is created in the state treasury.  The Liquor Control Board must deposit the additional markup into the account.  The account is to be used for the construction and maintenance of the new distribution center.  The State Treasurer must transfer the revenue generated from the additional markup imposed on July 1, 1996 into the Liquor Control Board construction and maintenance account.

Votes on Final Passage:

Senate 48 1

House     95 0

Effective:  April 19, 1997