SB 6319-S - DIGEST

(DIGEST OF PROPOSED 1ST SUBSTITUTE)

     Exempts financial and commercial information supplied by or on behalf of a person, firm, corporation, or entity under chapter 28B.95 RCW relating to the purchase or sale of tuition units and contracts for the purchase of multiple tuition units from public inspection and copying.

     Provides that, for the purposes of funding the operating expenses for the 1997-1999 biennium of the Washington advanced college tuition payment program under this chapter, the state finance committee is authorized to issue general obligation notes, including refunding notes, of the state of Washington in the sum of two million dollars, or as much thereof as may be required.  Notes authorized in this section may be sold at such price as the state finance committee shall determine.

     Requires the proceeds from the sale of the notes authorized in this act to be deposited in the Washington advanced college tuition payment program account under RCW 28B.95.060.