HB 3168 - DIGEST

(AS OF HOUSE 2ND READING 3/22/00)

     Directs the treasurer to deposit four and fifty-two one-hundredths percent of automobile-related sales and use tax revenue in the multimodal transportation account.  The balance of automobile-related sales and use tax revenue shall be deposited in the general fund.

     Provides that, beginning in the fiscal year ending June 30, 2002, and each fiscal year thereafter through the fiscal year ending June 30, 2005, the treasurer shall transfer the sum of twenty million dollars, divided into equal quarterly deposits, from the general fund to the multimodal transportation account for the regional transit authority.

     Provides that, beginning in the fiscal year ending June 30, 2001, and each fiscal year thereafter, the state treasurer shall transfer to the Puget Sound ferry operations account from the general fund the sum of twenty million dollars, divided into equal quarterly deposits.  For each fiscal year after the fiscal year ending June 30, 2001, the state treasurer shall increase the total transfer by the fiscal growth factor, as defined in RCW 43.135.025, forecast for that fiscal year by the office of financial management in November of the preceding year.