HOUSE BILL REPORT
SSB 6090
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. |
As of Second Reading
Title: An act relating to the capital budget.
Brief Description: Concerning the capital budget.
Sponsors: Senate Committee on Ways & Means (originally sponsored by Senators Frockt, Honeyford, Mullet, Darneille, Liias, Palumbo, Takko, Keiser, Van De Wege, Hunt, Nelson, Dhingra, Chase, Saldaña, Rolfes, McCoy, Carlyle, Wellman, Ranker and Kuderer).
Brief History:
Committee Activity:
None.
Brief Summary of Substitute Bill |
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Staff: Melissa Palmer (786-7388).
Background:
Washington operates on a biennial budget cycle. During the odd-numbered fiscal years, the Legislature historically authorizes expenditures for capital needs in the Omnibus Capital Appropriations Act (Capital Budget) for a two-year period, and authorizes bond sales through passage of a bond bill associated with the Capital Budget to fund a portion of these expenditures. Historically, over one-half of the Capital Budget is financed by these state-issued general obligation bonds, and the balance is funded by dedicated accounts, trust revenue, and federal funding sources. During the even-numbered fiscal years, the Legislature historically enacts a supplemental budget making adjustments to the two-year budget. The Legislature did not authorize a Capital Budget or bond sales during the 2017 Legislative Session. The current 2017-19 biennium covers the period from July 1, 2017, through June 30, 2019.
The Capital Budget includes appropriations for the acquisition, construction, and repair of capital assets such as state office buildings, prisons, juvenile rehabilitation centers, residential habilitation centers, mental health facilities, military readiness centers, and higher education facilities. The Capital Budget also funds a variety of environmental and natural resource projects, parks and recreational facilities, public K-12 school construction, and grant and loan programs that support housing, public infrastructure, community service facilities, and art and historical projects.
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Summary of Bill:
The 2017-19 Capital Budget authorizes new appropriations totaling $4.2 billion, of which $2.77 billion is financed with state general obligation bonds. It authorizes state agencies to enter into a variety of alternative financing contracts totaling $174 million.
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Appropriation: None.
Fiscal Note: Not requested.
Effective Date: The bill contains an emergency clause and takes effect immediately.
Staff Summary of Public Testimony:
(In support) None.
(Opposed) None.
Persons Testifying: None.
Persons Signed In To Testify But Not Testifying: None.