SUBSTITUTE HOUSE BILL 2914





                        57th Legislature

                      2002 Regular Session


Passed by the House February 17, 2002

  Yeas 94   Nays 0




Speaker of the House of Representatives







Passed by the Senate March 8, 2002

  Yeas 47   Nays 0



I, Cynthia Zehnder, Chief Clerk of the House of Representatives of the State of Washington, do hereby certify that the attached is SUBSTITUTE HOUSE BILL 2914  as passed by the House of Representatives and the Senate on the dates hereon set forth.




                          Chief Clerk






President of the Senate




Approved Place Style On Codes above, and Style Off Codes below.               




Governor of the State of Washington

                   Secretary of State

                  State of Washington



                    SUBSTITUTE HOUSE BILL 2914



             Passed Legislature - 2002 Regular Session


State of Washington      57th Legislature     2002 Regular Session


By House Committee on Appropriations (originally sponsored by Representatives Kenney, Fromhold, Cox, Morell, Haigh and Wood)


Read first time 02/09/2002.  Referred to Committee on .

Creating the state financial aid account.

    AN ACT Relating to creating a financial aid account to ensure that all statewide student financial aid is made available; adding a new section to chapter 28B.10 RCW; and providing an effective date.




    NEW SECTION.  Sec. 1.  A new section is added to chapter 28B.10 RCW to read as follows:

    The state financial aid account is created in the custody of the state treasurer.  The primary purpose of the account is to create a reserve to ensure that all appropriations designated for financial aid through statewide student financial aid programs are made available to eligible students.  Expenditures from the account may be used only for financial aid to students eligible for the state need grant program, the state work study program, the Washington scholars program, or the Washington award for vocational excellence program.  Only the executive director of the higher education coordinating board or the executive director's designee may authorize expenditures from the account.  The account is subject to the allotment procedures under chapter 43.88 RCW, but an appropriation is not required for expenditures.


    NEW SECTION.  Sec. 2.  This act takes effect July 1, 2002.


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