BILL REQ. #: Z-0998.1
State of Washington | 62nd Legislature | 2012 Regular Session |
Read first time 02/01/12. Referred to Committee on Ways & Means.
AN ACT Relating to establishing the center for childhood deafness and hearing loss account and the school for the blind account; amending RCW 43.79A.040; adding new sections to chapter 72.40 RCW; and providing an effective date.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1 A new section is added to chapter 72.40 RCW
to read as follows:
The center for childhood deafness and hearing loss account is
created in the custody of the state treasurer. All receipts from
contracts, grants, gifts, conveyances, devises, and bequests of real or
personal property, or payments received from RCW 72.40.0191 (14) and
(15), and 72.40.050 must be deposited into the account. Expenditures
from the account may be used only for duties related to RCW 72.40.0191
(14) and (15), and 72.40.050. Only the director of the center for
childhood deafness and hearing loss or the director's designee may
authorize expenditures from the account. The account is subject to
allotment procedures under chapter 43.88 RCW, but an appropriation is
not required for expenditures.
NEW SECTION. Sec. 2 A new section is added to chapter 72.40 RCW
to read as follows:
The school for the blind account is created in the custody of the
state treasurer. All receipts from contracts, grants, gifts,
conveyances, devises, and bequests of real or personal property, or
payments received from RCW 72.40.022 (10) and (11), and 72.40.050 must
be deposited into the account. Expenditures from the account may be
used only for duties related to RCW 72.40.022 (10) and (11), and
72.40.050. Only the director of the center for childhood deafness and
hearing loss or the director's designee may authorize expenditures from
the account. The account is subject to allotment procedures under
chapter 43.88 RCW, but an appropriation is not required for
expenditures.
Sec. 3 RCW 43.79A.040 and 2011 1st sp.s. c 37 s 603 are each
amended to read as follows:
(1) Money in the treasurer's trust fund may be deposited, invested,
and reinvested by the state treasurer in accordance with RCW 43.84.080
in the same manner and to the same extent as if the money were in the
state treasury, and may be commingled with moneys in the state treasury
for cash management and cash balance purposes.
(2) All income received from investment of the treasurer's trust
fund must be set aside in an account in the treasury trust fund to be
known as the investment income account.
(3) The investment income account may be utilized for the payment
of purchased banking services on behalf of treasurer's trust funds
including, but not limited to, depository, safekeeping, and
disbursement functions for the state treasurer or affected state
agencies. The investment income account is subject in all respects to
chapter 43.88 RCW, but no appropriation is required for payments to
financial institutions. Payments must occur prior to distribution of
earnings set forth in subsection (4) of this section.
(4)(a) Monthly, the state treasurer must distribute the earnings
credited to the investment income account to the state general fund
except under (b), (c), and (d) of this subsection.
(b) The following accounts and funds must receive their
proportionate share of earnings based upon each account's or fund's
average daily balance for the period: The Washington promise
scholarship account, the college savings program account, the
Washington advanced college tuition payment program account, the
accessible communities account, the community and technical college
innovation account, the agricultural local fund, the American Indian
scholarship endowment fund, the foster care scholarship endowment fund,
the foster care endowed scholarship trust fund, the students with
dependents grant account, the basic health plan self-insurance reserve
account, the contract harvesting revolving account, the Washington
state combined fund drive account, the commemorative works account, the
county enhanced 911 excise tax account, the Washington international
exchange scholarship endowment fund, the toll collection account, the
developmental disabilities endowment trust fund, the energy account,
the fair fund, the family leave insurance account, the food animal
veterinarian conditional scholarship account, the fruit and vegetable
inspection account, the future teachers conditional scholarship
account, the game farm alternative account, the GET ready for math and
science scholarship account, the Washington global health technologies
and product development account, the grain inspection revolving fund,
the industrial insurance rainy day fund, the juvenile accountability
incentive account, the law enforcement officers' and firefighters' plan
2 expense fund, the local tourism promotion account, the pilotage
account, the produce railcar pool account, the regional transportation
investment district account, the rural rehabilitation account, the
stadium and exhibition center account, the youth athletic facility
account, the self-insurance revolving fund, the sulfur dioxide
abatement account, the children's trust fund, the Washington horse
racing commission Washington bred owners' bonus fund and breeder awards
account, the Washington horse racing commission class C purse fund
account, the individual development account program account, the
Washington horse racing commission operating account (earnings from the
Washington horse racing commission operating account must be credited
to the Washington horse racing commission class C purse fund account),
the life sciences discovery fund, the Washington state heritage center
account, the reduced cigarette ignition propensity account, ((and)) the
reading achievement account, the center for childhood deafness and
hearing loss account, and the school for the blind account.
(c) The following accounts and funds must receive eighty percent of
their proportionate share of earnings based upon each account's or
fund's average daily balance for the period: The advanced right-of-way
revolving fund, the advanced environmental mitigation revolving
account, the federal narcotics asset forfeitures account, the high
occupancy vehicle account, the local rail service assistance account,
and the miscellaneous transportation programs account.
(d) Any state agency that has independent authority over accounts
or funds not statutorily required to be held in the custody of the
state treasurer that deposits funds into a fund or account in the
custody of the state treasurer pursuant to an agreement with the office
of the state treasurer shall receive its proportionate share of
earnings based upon each account's or fund's average daily balance for
the period.
(5) In conformance with Article II, section 37 of the state
Constitution, no trust accounts or funds shall be allocated earnings
without the specific affirmative directive of this section.
NEW SECTION. Sec. 4 This act takes effect July 1, 2012.