S‑0589.1      _____________________________________________

SENATE BILL 5493

           _____________________________________________

State of Washington      57th Legislature     2001 Regular Session

By Senator Jacobsen

Read first time 01/24/2001.  Referred to Committee on Natural Resources, Parks & Shorelines.

_1      AN ACT Relating to the youth athletic facility account; and

_2  amending RCW 43.99N.060.

_3  BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

_4      Sec. 1.  RCW 43.99N.060 and 2000 c 137 s 1 are each amended to read

_5  as follows:

_6      (1) The stadium and exhibition center account is created in the

_7  custody of the state treasurer.  All receipts from the taxes imposed

_8  under RCW 82.14.0494 and distributions under RCW 67.70.240(5)

_9  shall be deposited into the account.  Only the director of the

10  office of financial management or the director's designee may

11  authorize expenditures from the account.  The account is subject to

12  allotment procedures under chapter 43.88 RCW.  An appropriation is

13  not required for expenditures from this account.

14      (2) Until bonds are issued under RCW 43.99N.020, up to five

15  million dollars per year beginning January 1, 1999, shall be used

16  for the purposes of subsection (3)(b) of this section, all

17  remaining moneys in the account shall be transferred to the public

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_1  stadium authority, created under RCW 36.102.020, to be used for

_2  public stadium authority operations and development of the stadium

_3  and exhibition center.

_4      (3) After bonds are issued under RCW 43.99N.020, all moneys in

_5  the stadium and exhibition center account shall be used

_6  exclusively for the following purposes in the following priority:

_7      (a) On or before June 30th of each year, the office of

_8  financial management shall accumulate in the stadium and

_9  exhibition center account an amount at least equal to the amount

10  required in the next succeeding twelve months for the payment of

11  principal of and interest on the bonds issued under RCW

12  43.99N.020;

13      (b) An additional reserve amount not in excess of the expected

14  average annual principal and interest requirements of bonds issued

15  under RCW 43.99N.020 shall be accumulated and maintained in the

16  account, subject to withdrawal by the state treasurer at any time

17  if necessary to meet the requirements of (a) of this subsection,

18  and, following any withdrawal, reaccumulated from the first tax

19  revenues and other amounts deposited in the account after meeting

20  the requirements of (a) of this subsection; and

21      (c) The balance, if any, shall be transferred to the youth

22  athletic facility account under subsection (4) of this section.

23      Any revenues derived from the taxes authorized by RCW

24  36.38.010(5) and 36.38.040 or other amounts that if used as

25  provided under (a) and (b) of this subsection would cause the loss

26  of any tax exemption under federal law for interest on bonds

27  issued under RCW 43.99N.020 shall be deposited in and used

28  exclusively for the purposes of the youth athletic facility

29  account and shall not be used, directly or indirectly, as a source

30  of payment of principal of or interest on bonds issued under RCW

31  43.99N.020, or to replace or reimburse other funds used for that

32  purpose.

33      (4) Any moneys in the stadium and exhibition center account not

34  required or permitted to be used for the purposes described in

35  subsection (3)(a) and (b) of this section shall be deposited in

36  the youth athletic facility account hereby created in the state

37  treasury.  Expenditures from the account may be used only for

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_1  purposes of grants or loans to cities, counties, and qualified

_2  nonprofit organizations for community outdoor athletic facilities.

_3  Only the director of the interagency committee for outdoor

_4  recreation or the director's designee may authorize expenditures

_5  from the account.  The account is subject to allotment procedures

_6  under chapter 43.88 RCW, but an appropriation is not required for

_7  expenditures.  The athletic facility grants or loans may be used for

_8  acquiring, developing, equipping, maintaining, and improving

_9  community outdoor athletic facilities.  Funds shall be divided

10  ((equally)) between the development of new community outdoor

11  athletic facilities, the improvement of existing community outdoor

12  athletic facilities, and the maintenance of existing community

13  outdoor athletic facilities.  Cities, counties, and qualified

14  nonprofit organizations must submit proposals for grants or loans

15  from the account.  To the extent that funds are available, cities,

16  counties, and qualified nonprofit organizations must meet

17  eligibility criteria as established by the director of the

18  interagency committee for outdoor recreation.  The grants and loans

19  shall be awarded on a competitive application process and the

20  amount of the grant or loan shall be in proportion to the

21  population of the city or county for where the community outdoor

22  athletic facility is located.  Grants or loans awarded in any one

23  year need not be distributed in that year.  The director of the

24  interagency committee for outdoor recreation may expend up to one

25  and one-half percent of the moneys deposited in the account

26  created in this subsection for administrative purposes.

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