BILL REQ. #:  Z-0505.1 

Read first time 02/13/09.   Referred to Committee on Ways & Means.

     AN ACT Relating to authorized expenditures from the OASI revolving fund and OASI contribution account; and amending RCW 41.48.065 and 41.48.080.

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

Sec. 1   RCW 41.48.065 and 1991 sp.s. c 13 s 111 are each amended to read as follows:
     (1) There is hereby established a separate fund in the custody of the state treasurer to be known as the OASI revolving fund. The fund shall consist of all moneys designated for deposit in the fund. The OASI revolving fund shall be used exclusively for the purpose of this section, including the costs of program administration. Withdrawals from the fund ((shall)) may be made for the payment of amounts the state may be obligated to pay or forfeit by reason of any failure of any public agency to pay assessments on contributions or interest assessments required under the federal-state agreement under this chapter or federal regulations.
     (2) All costs allocable to the administration of this chapter shall be charged to and paid to the OASI revolving fund by the participating divisions and instrumentalities of the state pro rata according to their respective contributions.
     (3) The treasurer of the state shall be ex officio treasurer and custodian of the fund and shall administer the fund in accordance with this chapter and the directions of the governor and shall pay all amounts drawn upon it in accordance with this section and with the regulations the governor may prescribe under this section.

Sec. 2   RCW 41.48.080 and 1951 c 184 s 9 are each amended to read as follows:
     All costs allocable to the administration of this chapter shall be charged to and paid to the ((general)) OASI revolving fund by the participating divisions and instrumentalities of the state pro rata according to their respective contributions.