5531-S2 AMS POUL WILS 045

2SSB 5531 - S AMD 377

By Senator Poulsen

4/15/03 NOT ADOPTED

On page 1, after line 4, insert the following:

"NEW SECTION. Sec. 1. It is the intent of this act to extend the sales and use tax deferral program for high technology research and development but limit total use of the program in order to use the moneys that are made available for allocation to institutions of higher education to increase the annual average, full-time equivalent student enrollments, and related financial assistance, over levels supported by the general fund pursuant to section 602 of Substitute Senate Bill No. 5404 (omnibus operating appropriations act)."

On page 1, after line 16, insert the following:

"(3) The department shall keep a running total of all deferrals granted under this chapter during each calendar year. The department shall disallow any deferrals that would cause the tabulation to exceed thirty million dollars in any calendar year."

On page 1, after line 16, insert the following:

"NEW SECTION. Sec. 3. (1) The sum of $19,024,000, for fiscal year 2004 and $19,024,000 for fiscal year 2005, or so much thereof as may be necessary, is appropriated from the general fund to the higher education coordinating board for allocation to state baccalaureate institutions to increase the annual average, full-time equivalent student enrollments, and related financial assistance, by 1,000 over levels supported by the general fund pursuant to section 602 of Substitute Senate Bill No. 5404 (omnibus operating appropriations act).

(2) The sum of $12,313,000, for fiscal year 2004 and $12,313,000 for fiscal year 2005, or so much thereof as may be necessary, is appropriated from the general fund to the state board for community and technical colleges for allocation to college districts to increase the annual average, full-time equivalent student enrollments by 3,140 over levels supported by the general fund pursuant to section 602 of Substitute Senate Bill No. 5404 (omnibus operating appropriations act)."

Renumber the sections consecutively.

2SSB 5531 - S AMD

By Senator ....

On page 1, on line 3 of the title, after "program;" strike the remainder of the title and insert "amending RCW 82.63.030; creating a new section; and making appropriations."

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EFFECT: Extends the sales and use tax deferral/exemption program for hi-tech research and development but limits it to $30 million per year and uses the revenues made available for allocation to institutions of higher education to increase the annual student enrollments over levels supported by the general fund under SSB 5404 (omnibus operating appropriations act).