BILL REQ. #: S-3735.1
| State of Washington | 61st Legislature | 2010 Regular Session |
Read first time 01/13/10. Referred to Committee on Economic Development, Trade & Innovation.
AN ACT Relating to fiscal note instructions; adding a new section to chapter 43.88A RCW; and creating a new section.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1 The legislature finds that some economic
development initiatives, including tax incentives and infrastructure
finance, have the potential for a positive fiscal impact on the state
that is not always reflected in the fiscal notes prepared by state
agencies. It is the intent of this legislation to modify the
procedures employed in the preparation of fiscal notes to better
reflect the potential for increased revenue from economic development
initiatives.
NEW SECTION. Sec. 2 A new section is added to chapter 43.88A RCW
to read as follows:
The fiscal note instructions issued by the office of financial
management as required by RCW 43.88A.020 shall include procedures, such
as economic projections or modeling, that take into account increased
economic activity which may result from any economic development
contemplated in a bill or resolution.