CERTIFICATION OF ENROLLMENT

 

                        HOUSE BILL 1054

 

 

                   Chapter 269, Laws of 1997

 

 

 

 

                        55th Legislature

                      1997 Regular Session

 

 

STATE EDUCATIONAL TRUST FUND--TIME LIMITS FOR DEPOSIT OF REFUNDS AND RECOVERIES

 

 

 

                    EFFECTIVE DATE:  7/27/97

Passed by the House April 25, 1997

  Yeas 97   Nays 0

 

 

 

             CLYDE BALLARD

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.

 

 

 

               BRAD OWEN

President of the Senate

          TIMOTHY A. MARTIN

                          Chief Clerk

 

 

Approved May 6, 1997 Place Style On Codes above, and Style Off Codes below.   

                                FILED           

 

 

              May 6, 1997 - 4:05 p.m.

 

 

 

              GARY LOCKE

Governor of the State of Washington

                   Secretary of State

                  State of Washington


          _______________________________________________

 

                          HOUSE BILL 1054

          _______________________________________________

 

             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.


    Passed the House April 25, 1997.

    Passed the Senate April 25, 1997.

Approved by the Governor May 6, 1997.

    Filed in Office of Secretary of State May 6, 1997.