BILL REQ. #:  H-2529.1 

Read first time 04/09/11.   Referred to Committee on Ways & Means.

     AN ACT Relating to consolidating revenues into the general fund; amending RCW 82.45.060, 43.350.070, and 15.76.115; reenacting and amending RCW 43.79.480; providing an effective date; and declaring an emergency.

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

Sec. 1   RCW 82.45.060 and 2005 c 450 s 1 are each amended to read as follows:
     There is imposed an excise tax upon each sale of real property at the rate of one and twenty-eight one-hundredths percent of the selling price. An amount equal to six and one-tenth percent of the proceeds of this tax to the state treasurer shall be deposited in the ((public works assistance account created in RCW 43.155.050)) state general fund. An amount equal to one and six-tenths percent of the proceeds of this tax to the state treasurer shall be deposited in the city-county assistance account created in RCW 43.08.290.

Sec. 2   RCW 43.79.480 and 2009 c 564 s 937 and 2009 c 479 s 30 are each reenacted and amended to read as follows:
     (1) Moneys received by the state of Washington in accordance with the settlement of the state's legal action against tobacco product manufacturers, exclusive of costs and attorneys' fees, shall be deposited in the ((tobacco settlement account created in this section)) state general fund except as these moneys are sold or assigned under chapter 43.340 RCW.
     (2) ((The tobacco settlement account is created in the state treasury. Moneys in the tobacco settlement account may only be transferred to the state general fund, and to the tobacco prevention and control account for purposes set forth in this section. The legislature shall transfer amounts received as strategic contribution payments as defined in RCW 43.350.010 to the life sciences discovery fund created in RCW 43.350.070. During the 2009-2011 fiscal biennium, the legislature may transfer less than the entire strategic contribution payments.
     (3))) The tobacco prevention and control account is created in the state treasury. The source of revenue for this account is moneys transferred to the account ((from the tobacco settlement account)), investment earnings, donations to the account, and other revenues as directed by law. Expenditures from the account are subject to appropriation. ((During the 2009-2011 fiscal biennium, the legislature may transfer from the tobacco prevention and control account to the state general fund such amounts as represent the excess fund balance of the account.))

Sec. 3   RCW 43.350.070 and 2011 c 5 s 916 are each amended to read as follows:
     The life sciences discovery fund is created in the custody of the state treasurer. Only the board or the board's designee may authorize expenditures from the fund. Expenditures from the fund may be made only for purposes of this chapter. Administrative expenses of the authority, including staff support, may be paid only from the fund. Revenues to the fund consist of transfers made by the legislature ((from strategic contribution payments deposited in the tobacco settlement account under RCW 43.79.480)) into the account, moneys received pursuant to contribution agreements entered into pursuant to RCW 43.350.030, moneys received from gifts, grants, and bequests, and interest earned on the fund. During the 2009-2011 fiscal biennium, the legislature may transfer to other state funds or accounts such amounts as represent the excess balance of the life sciences discovery fund.

Sec. 4   RCW 15.76.115 and 2010 1st sp.s. c 37 s 912 are each amended to read as follows:
     The fair fund is created in the custody of the state treasury. All moneys received by the department of agriculture for the purposes of this fund and from RCW 67.16.105(((4))) (7) shall be deposited into the fund. ((At the beginning of fiscal year 2002 and each fiscal year thereafter, the state treasurer shall transfer into the fair fund from the general fund the sum of two million dollars, except for fiscal year 2011 the state treasurer shall transfer into the fair fund from the general fund the sum of one million one hundred three thousand dollars.)) Expenditures from the fund may be used only for assisting fairs in the manner provided in this chapter. Only the director of agriculture or the director's designee may authorize expenditures from the fund. The fund is subject to allotment procedures under chapter 43.88 RCW, but no appropriation is required for expenditures.

NEW SECTION.  Sec. 5   This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and takes effect July 1, 2011.