5734-S AMH ANDG MASS 068

SSB 5734 - H AMD TO WAYS COMM AMD (H-3287.1/09) 845

By Representative Anderson

NOT ADOPTED 4/22/2009

    On page 2, after line 34, insert the following:

"Sec. 2.  RCW 28B.20.382 and 1999 c 346 s 3 are each amended to read as follows:

    (1) ((Until authorized by statute of the legislature, the board of regents of the university, with respect to the university tract, shall not sell the land or any part thereof or any improvement thereon, or lease the land or any part thereof or any improvement thereon or renew or extend any lease thereof for a term of more than eighty years.  Any sale of the land or any part thereof or any improvement thereon, or any lease or renewal or extension of any lease of the land or any part thereof or any improvement thereon for a term of more than eighty years made or attempted to be made by the board of regents shall be null and void until the same has been approved or ratified and confirmed by legislative act.))The board of regents of the university shall sell any property with respect to the university tract that is not under an existing lease. Whenever existing leases expire the property shall be sold rather than renewing the lease. The sale shall be done through a  competitive bidding process.

    (2) The board of regents shall have power from time to time to lease the land, or any part thereof or any improvement thereon for a term of not more than eighty years.  Any and all records, books, accounts, and agreements of any lessee or sublessee under this section, pertaining to compliance with the terms and conditions of such lease or sublease, shall be open to inspection by the board of regents, the ways and means committee of the senate, the appropriations committee of the house of representatives, and the joint legislative audit and review committee or any successor committees.  It is not intended that unrelated records, books, accounts, and agreements of lessees, sublessees, or related companies be open to such inspection.  The board of regents shall make a full, detailed report of all leases and transactions pertaining to the land or any part thereof or any improvement thereon to the joint legislative audit and review committee, including one copy to the staff of the committee, during odd-numbered years.

    (3) The net proceeds from the sale ((or lease ))of land in the university tract shall first pay any previously incurred debt, and then((, or any part thereof or any improvement thereon, shall be deposited into the University of Washington facilities bond retirement account hereby established outside the state treasury as a nonappropriated local fund to be used exclusively for the purpose of erecting, altering, maintaining, equipping, or furnishing buildings at the University of Washington.  The board of regents shall transfer from the University of Washington facilities bond retirement account to the University of Washington building account under RCW 43.79.080 any funds in excess of amounts reasonably necessary for payment of debt service in combination with other nonappropriated local funds related to capital projects for which debt service is required under section 4, chapter 380, Laws of 1999.))be deposited into the University of Washington metropolitan tract tuition account hereby established as an appropriated fund to be used exclusively for tuition support purposes, only for residential undergraduate and graduate students of the University of Washington. The proceeds from the sale of any university tract property shall be kept whole at all times. Only revenue from interest earnings shall be appropriated."

EFFECT:   Directs the University of Washington to sell University Tract property for purposes of tuition support.

--- END ---