2173 AMH ALEX GAVI 41

HB 2173 - H AMD

By Representative Alexander

     On page 1, line 9, before "purpose" insert "primary"

     On page 1, line 10, after "generated" strike the remainder of the section and insert the following: "under this section shall be deposited as follows:

     (1) Moneys generated prior to July 1, 2002, shall be deposited in the student achievement fund created in RCW 43.135.045;

     (2) Moneys generated from July 1, 2002, through June 30, 2003, shall be deposited as follows:

     (a) The first thirty-six million dollars shall be deposited in the common school construction fund created in RCW 28A.515.320; and

     (b) Any additional moneys shall be deposited in the student achievement fund created in RCW 43.135.045; and

     (3) Moneys generated after June 30, 2003, shall be deposited as follows:

     (a) For the fiscal year beginning July 1, 2003, the first thirty-seven million eighty thousand dollars shall be deposited in the common school construction fund created in RCW 28A.515.320, and for each fiscal year thereafter, the amount under this subsection (3)(a) shall be increased by three percent per year; and

     (b) Any additional moneys after the deposit in subsection (3)(a) of this section shall be deposited in the student achievement fund created in RCW 43.135.045."

EFFECT: The moneys generated from the new multi-state lottery game are deposited as follows: (1) until July 1, 2002, all to the Student Achievement Fund; (2) from July 1, 2002, through June 30, 2003, the first $36 million to the Common School Construction Fund and any additional moneys to the Student Achievement Fund; and (3) after June 30, 2003, the amount deposited to the Common School Construction Account is increased by 3 percent each year and any additional moneys go to the Student Achievement Fund.