6187-S AMS MURB MOOR 009

SSB 6187 - S AMD 736

By Senators Murray and Doumit

ADOPTED 2/25/04

On page 128, line 26, increase the general fund–state appropriation for fiscal year 2005 by $5,917,000 and adjust the total accordingly.

On page 179, after line 17, insert the following:

"Sec. 904. RCW 28A.500.030 and 2003 1st sp.s. c 25 s 912 is amended to read as follows:

Allocation of state matching funds to eligible districts for local effort assistance shall be determined as follows:

(1) Funds raised by the district through maintenance and operation levies shall be matched with state funds using the following ratio of state funds to levy funds:

(a) The difference between the district's twelve percent levy rate and the statewide average twelve percent levy rate; to

(b) The statewide average twelve percent levy rate.

(2) The maximum amount of state matching funds for districts eligible for local effort assistance shall be the district's twelve percent levy amount, multiplied by the following percentage:

(a) The difference between the district's twelve percent levy rate and the statewide average twelve percent levy rate; divided by

(b) The district's twelve percent levy rate.

(3) Calendar year 2003 allocations and maximum eligibility under this chapter shall be multiplied by 0.99.

(4) From January 1, 2004, to ((June 30, 2005)) December 31, 2004, allocations and maximum eligibility under this chapter shall be multiplied by 0.937."

Renumber the sections consecutively and correct any internal references accordingly.

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EFFECT: Restores the 6.3 percent pro-rated reduction in levy equalization allocations for calendar year 2005. This increases levy equalization costs by $10.8 million in calendar year 2005 and $5.9 million in fiscal year 2005.