HB 3169.E - DIGEST

(DIGEST AS ENACTED)

     Modifies the state expenditure limit law by strengthening the expenditure limit and providing for timely deposits to the education construction fund.

     Establishes a state expenditure limit committee for the purpose of determining and adjusting the state expenditure limit as provided in chapter 43.135 RCW.  The members of the state expenditure limit committee are the director of financial management, the state treasurer, and the chairs of the senate committee on ways and means and the house of representatives committee on appropriations.  All actions of the state expenditure limit committee taken pursuant to this chapter require an affirmative vote of at least three members.

     Declares that, if, by November 30th of each year, the state expenditure limit committee has not adopted the expenditure limit adjustment and projected expenditure limit as provided in this act, the treasurer shall adjust or project the expenditure limit, as necessary.