CERTIFICATION OF ENROLLMENT

 

                        SENATE BILL 5631

 

 

                   Chapter 324, Laws of 1998

 

 

                        55th Legislature

                      1998 Regular Session

 

 

EDUCATION LOAN GUARANTEE SERVICES--BUSINESS AND OCCUPATION TAX EXEMPTION

 

 

 

                    EFFECTIVE DATE:  6/11/98

Passed by the Senate February 11, 1998

  YEAS 46   NAYS 0

 

 

 

               BRAD OWEN

President of the Senate

 

Passed by the House March 10, 1998

  YEAS 94   NAYS 0

             CERTIFICATE

 

I, Mike O=Connell, Secretary of the Senate of the State of Washington, do hereby certify that the attached is  SENATE BILL 5631 as passed by the Senate and the House of Representatives on the dates hereon set forth.

 

 

 

             CLYDE BALLARD

Speaker of the

      House of Representatives

           MIKE O'CONNELL

                            Secretary

 

 

Approved April 3, 1998 Place Style On Codes above, and Style Off Codes below.  

                                FILED          

 

 

            April 3, 1998 - 3:01 p.m.

 

 

 

              GARY LOCKE

Governor of the State of Washington

                   Secretary of State

                  State of Washington


          _______________________________________________

 

                         SENATE BILL 5631

          _______________________________________________

 

             Passed Legislature - 1998 Regular Session

 

State of Washington      55th Legislature     1997 Regular Session

 

By Senators Wood, Jacobsen and Oke

 

Read first time 02/04/97.  Referred to Committee on Higher Education.

Exempting education loan guarantee services from business and occupation tax. 


    AN ACT Relating to imposition of the business and occupation tax on education loan guarantee services; and amending RCW 82.04.367.

 

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

 

    Sec. 1.  RCW 82.04.367 and 1987 c 433 s 1 are each amended to read as follows:

    This chapter does not apply to gross income received by nonprofit organizations exempt from federal income tax under section 501(c)(3) of the internal revenue code of 1954, as amended, that:

    (1) Are guarantee agencies under the federal guaranteed student loan program or that issue debt to provide or acquire student loans; or

    (2) Provide guarantees for student loans made through programs other than the federal guaranteed student loan program.


    Passed the Senate February 11, 1998.

    Passed the House March 10, 1998.

Approved by the Governor April 3, 1998.

    Filed in Office of Secretary of State April 3, 1998.