BILL REQ. #:  S-4226.2 

Read first time 01/16/2006.   Referred to Committee on International Trade & Economic Development.

     AN ACT Relating to continued funding for the public facilities construction loan revolving account; and amending RCW 43.160.085.

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

Sec. 1   RCW 43.160.085 and 2002 c 242 s 3 are each amended to read as follows:
     (((1))) The public works assistance account shall annually transfer funds to the public facilities construction loan revolving account in amounts as follows: In fiscal year 2003, twelve percent of eighteen million eight hundred ninety thousand seven hundred seventy-five dollars, the total outstanding principal and interest associated with the loans issued by the public works board under the timber and rural natural resources programs; and in each ((of)) fiscal year((s)) from 2004((, 2005, 2006, and 2007,)) onward, twenty-two percent of the principal and interest associated with the timber and rural natural resources programs. In no event may this transfer exceed four million five hundred thousand dollars per year.
     (((2) This section expires June 30, 2007.))