HB 3135 - DIGEST

     Provides that, although current law directs revenues collected in lieu of the motor vehicle excise tax to be deposited in the manner provided under RCW 82.44.110, the legislature finds that these fund sources are no longer appropriate in light of passage of Initiative Measure No. 695.  Taxes levied in lieu of the motor vehicle excise tax shall continue to be deposited into an account in the state treasury to be used strictly for transportation purposes.

     Declares that, to the extent that ambiguity may exist under current law, the legislature hereby provides that taxes on retail car rentals collected under RCW 82.08.020 be deposited into the multimodal transportation account, created under this act.  The legislature intends that deposits in this account be made retroactive to December 31, 1999.

     Provides that all moneys owing or paid to the state that are not designated for deposit into a specific fund or account shall be held outside the general fund in the undesignated funds holding account, created in this act.

     Creates the multimodal transportation account in the state treasury.  Moneys in the account may be spent only after appropriation.  Expenditures from the account may be used only for transportation purposes.