CERTIFICATION OF ENROLLMENT

                        HOUSE BILL 1054

                        55th Legislature

                      1997 Regular Session

Passed by the House April 25, 1997   Yeas 97   Nays 0 Speaker of the       House of Representatives Passed by the Senate April 25, 1997   Yeas 41   Nays 0

CERTIFICATE I, Timothy A. Martin, Chief Clerk of the House of Representatives of the State of Washington, do hereby certify that the attached is HOUSE BILL 1054  as passed by the House of Representatives and the Senate on the dates hereon set forth.

President of the Senate

Chief Clerk

Approved Place Style On Codes above, and Style Off Codes below.

FILED

Governor of the State of Washington

Secretary of State                   State of Washington

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                          HOUSE BILL 1054

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             Passed Legislature - 1997 Regular Session

            AS RECOMMENDED BY THE CONFERENCE COMMITTEE

State of Washington      55th Legislature     1997 Regular Session

By Representatives Dunn, Carlson, Mason and Mielke; by request of Higher Education Coordinating Board

Read first time 01/13/97.  Referred to Committee on Higher Education.

Referencing the prior fiscal period rather than biennia for refunds and recoveries to the state educational trust fund.  

    AN ACT Relating to the state educational trust fund; and amending RCW 28B.10.821.

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

    Sec. 1.  RCW 28B.10.821 and 1996 c 107 s 1 are each amended to read as follows:

    The state educational trust fund is hereby established in the state treasury.  The primary purpose of the trust is to pledge state-wide available college student assistance to needy or disadvantaged students, especially middle and high school youth, considered at-risk of dropping out of secondary education who participate in board-approved early awareness and outreach programs and who enter any accredited Washington institution of postsecondary education within two years of high school graduation.

    The board shall deposit refunds and recoveries of student financial aid funds expended in prior ((biennia)) fiscal periods in such account.  The board may also deposit moneys that have been contributed from other state, federal, or private sources.

    Expenditures from the fund shall be for financial aid to needy or disadvantaged students.  The board may annually expend such sums from the fund as may be necessary to fulfill the purposes of this section, including not more than three percent for the costs to administer aid programs supported by the fund.  All earnings of investments of balances in the state educational trust fund shall be credited to the trust fund.  Expenditures from the fund shall not be subject to appropriation but are subject to allotment procedures under chapter 43.88 RCW.

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