SENATE BILL REPORT

HB 2223

As Reported By Senate Committee On:

Ways & Means, April 16, 2003

Title: An act relating to interest on building accounts.

Brief Description: Allowing The Evergreen State College capital projects account to retain its interest income.

Sponsors: Representatives Hunt, Alexander, Romero and Santos.

Brief History:

Committee Activity: Ways & Means: 4/16/03 [DP].

SENATE COMMITTEE ON WAYS & MEANS

Majority Report: Do pass.

      Signed by Senators Rossi, Chair; Zarelli, Vice Chair; Brown, Doumit, Fairley, Fraser, Hale, Johnson, Parlette, Poulsen, Regala, Roach, Sheahan and B. Sheldon.

Staff: Karen Barrett (786-7711)

Background: There are six state four-year institutions of higher education: the University of Washington, Washington State University, Central Washington University, Eastern Washington University, The Evergreen State College, and Western Washington University. The 34 state two-year institutions are governed by the State Board for Community and Technical Colleges. Each institution and the State Board has a building account that is appropriated by the Legislature for capital projects. Funding for these accounts generally includes a building fee that students pay, and trust revenue. The interest earned on accounts in the state treasury goes to the General Fund, unless a statute directs otherwise. Presently, every higher education institution, except for The Evergreen State College, retains interest earned on account deposits.

Summary of Bill: The interest on The Evergreen State College's building account is deposited into the account, rather than the General Fund.

Appropriation: None.

Fiscal Note: Available.

Effective Date: Ninety days after adjournment of session in which bill is passed.

Testimony For: Please support this change for the benefit of capital projects at The Evergreen State College; it will provide parity with other higher education institutions.

Testimony Against: None.

Testified: Edie Harding, The Evergreen State College.