FINAL BILL REPORT
SB 5367
This analysis was prepared by non-partisan legislative staff for the use of legislative members in their deliberations. This analysis is not a part of the legislation nor does it constitute a statement of legislative intent. |
C 176 L 11
Synopsis as Enacted
Brief Description: Authorizing the economic development finance authority to continue issuing bonds.
Sponsors: Senators Kastama, Chase, Holmquist Newbry, Shin and Kilmer.
Senate Committee on Economic Development, Trade & Innovation
House Committee on Community Development & Housing
House Committee on Capital Budget
Background: The Washington Economic Development Finance Authority (WEDFA) was established in 1989 to help small- and medium-sized businesses meet their capital needs. It is authorized to issue nonrecourse economic development bonds on both a taxable and tax-exempt basis. WEDFA has operated independent of state financial support since 1996. WEDFA is not to exceed $1 billion in total outstanding debt.
Summary: The limitation on WEDFA's outstanding debt is increased to $1.5 billion.
Votes on Final Passage:
Senate | 48 | 0 | |
House | 95 | 0 |
Effective: | July 22, 2011. |