Z-0455.2  _______________________________________________

                         SENATE BILL 5385

          _______________________________________________

State of Washington      55th Legislature     1997 Regular Session

By Senators Oke and Prentice; by request of Commissioner of Public Lands and Department of Natural Resources

Read first time 01/24/97.  Referred to Committee on Natural Resources & Parks.

Eliminating pooling of the resource management cost account and removing reference to agricultural college lands.

    AN ACT Relating to eliminating the pooling of the resource management cost account and removing reference to agricultural college lands; amending RCW 79.64.030; providing an effective date; and declaring an emergency.

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

    Sec. 1.  RCW 79.64.030 and 1993 c 460 s 2 are each amended to read as follows:

    Funds in the account derived from the gross proceeds of leases, sales, contracts, licenses, permits, easements, and rights of way issued by the department and affecting school lands, university lands, ((agricultural college lands,)) scientific school lands, normal school lands, capitol building lands, or institutional lands shall be ((pooled and)) expended by the department solely for the purpose of defraying the costs and expenses necessarily incurred in managing and administering ((all of the trust lands enumerated in this section)) state lands of the same trust.  Such funds may be used for similar costs and expenses in managing and administering other lands managed by the department provided that such expenditures that have been or may be made on such other lands shall be repaid to the resource management cost account together with interest at a rate determined by the board of natural resources.

    An accounting shall be made annually of the accrued expenditures from the ((pooled)) trust funds in the account.  In the event the accounting determines that expenditures have been made from moneys derived from trust lands for the benefit of another trust or other lands, such expenditure shall be considered a debt and an encumbrance against the property or trust funds benefited, including property held under chapter 76.12 RCW.  The results of the accounting shall be reported to the legislature at the next regular session.  The state treasurer is authorized, upon request of the department, to transfer funds between the forest development account and the resource management cost account solely for purpose of repaying loans pursuant to this section.

NEW SECTION. Sec. 2.  This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and takes effect July 1, 1997.

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