BILL REQ. #:  Z-0657.2 

Read first time 01/15/14.   Referred to Committee on Ways & Means.

     AN ACT Relating to the computation of general state revenues in alignment with Article VIII, section 1 of the state Constitution; and reenacting and amending RCW 39.42.070.

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

Sec. 1   RCW 39.42.070 and 2009 c 500 s 1 and 2009 c 479 s 24 are each reenacted and amended to read as follows:
     (1) On or after ((the effective date of this act)) July 1, 2014, the treasurer shall compute general state revenues for the ((three)) six fiscal years immediately preceding such date and shall determine the arithmetic mean ((thereof)) consistent with the definition of general state revenue set forth in Article VIII, section 1 of the state Constitution and subsection (2) of this section. As soon as is practicable after the close of each fiscal year thereafter, he or she shall do likewise.
     (2) In determining the amount of general state revenues, the treasurer shall include all state money received in the treasury from each and every source ((whatsoever except)) but not including: (((1))) (a) Fees and other revenues derived from the ownership or operation of any undertaking, facility or project; (((2))) (b) moneys received as gifts, grants, donations, aid or assistance or otherwise from the United States or any department, bureau or corporation thereof, or any person, firm or corporation, public or private, when the terms and conditions of such gift, grant, donation, aid or assistance require the application and disbursement of such moneys otherwise than for the general purposes of the state of Washington; (((3))) (c) moneys to be paid into and received from retirement system funds, and performance bonds and deposits; (((4))) (d) moneys to be paid into and received from trust funds ((including but not limited to moneys received from taxes levied for specific purposes)) and the several permanent and irreducible funds of the state and the moneys derived therefrom but excluding bond redemption funds; (((5))) (e) moneys received from taxes levied for specific purposes and required to be deposited for those purposes into specified funds or accounts other than the general fund; and (f) proceeds received from the sale of bonds or other evidences of indebtedness.
     (3) Upon computing general state revenues, the treasurer shall make and file in the office of the secretary of state, a certificate containing the results of such computations. Copies of said certificate shall be sent to each elected official of the state and each member of the legislature. The treasurer shall, at the same time, advise each elected official and each member of the legislature of the current available debt capacity of the state, and may make estimated projections for one or more years concerning debt capacity.