BILL REQ. #:  H-2195.1 

Read first time 02/21/2007.   Referred to Committee on Capital Budget.

     AN ACT Relating to termination of the job development fund program; amending RCW 43.155.050; repealing RCW 43.160.230, 43.160.240, and 44.28.801; and repealing 2005 c 425 s 4.

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

Sec. 1   RCW 43.155.050 and 2005 c 488 s 925 are each amended to read as follows:
     The public works assistance account is hereby established in the state treasury. Money may be placed in the public works assistance account from the proceeds of bonds when authorized by the legislature or from any other lawful source. Money in the public works assistance account shall be used to make loans and to give financial guarantees to local governments for public works projects. Moneys in the account may also be appropriated to provide for state match requirements under federal law for projects and activities conducted and financed by the board under the drinking water assistance account. Not more than fifteen percent of the biennial capital budget appropriation to the public works board from this account may be expended or obligated for preconstruction loans, emergency loans, or loans for capital facility planning under this chapter; of this amount, not more than ten percent of the biennial capital budget appropriation may be expended for emergency loans and not more than one percent of the biennial capital budget appropriation may be expended for capital facility planning loans. ((For the 2005-2007 biennium, moneys in the account may be used for grants for projects identified in section 138, chapter 488, Laws of 2005.))

NEW SECTION.  Sec. 2   The following acts or parts of acts are each repealed:
     (1) RCW 43.160.230 (Job development fund program) and 2005 c 425 s 2;
     (2) RCW 43.160.240 (Job development fund program--Maximum grants) and 2005 c 425 s 3;
     (3) RCW 44.28.801 (State public infrastructure programs and funds--Inventory -- Report) and 2006 c 371 s 229 & 2005 c 425 s 5; and
     (4) 2005 c 425 s 4.