Z-28                  _______________________________________________

                                                   SENATE BILL NO. 3107

                        _______________________________________________

State of Washington                              49th Legislature                              1985 Regular Session

By Senators Rasmussen, Gaspard and Rinehart; by Lieutenant Governor request

Read first time 1/17/85 and referred to Committee on Government Operations.

AN ACT Relating to public disclosure; amending RCW 42.17.395; and adding a new section to chapter 42.17 RCW.

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

NEW SECTION. Sec. 1.  There is added to chapter 42.17 RCW a new section to read as follows:

          (1) Consultants and financial and legal advisors of the following agencies shall comply with the financial reporting requirements of RCW 42.17.240 and 42.17.241:

          (a) State finance committee;

          (b) State investment board;

          (c) Higher education facilities authority;

          (d) Health care facilities authority; and

          (e) State housing finance commission.

          (2) In addition to any other information required under this chapter, the persons specified in subsection (1) of this section shall disclose any accounts they hold with securities brokerage or underwriting firms.

        Sec. 2.  Section 12, chapter 112, Laws of 1975-'76 2nd ex. sess. as amended by section 16, chapter 147, Laws of 1982 and RCW 42.17.395 are each amended to read as follows:

          (1) The commission may (a) determine whether an actual violation of this chapter has occurred; and (b) issue and enforce an appropriate order following such determination.

          (2) The commission, in cases where it chooses to determine whether an actual violation of this chapter has occurred, shall hold a contested case hearing pursuant to the administrative procedure act (chapter 34.04 RCW) to make such determination.  Any order which the commission issues under this section shall be pursuant to such hearing.

          (3) In lieu of holding a hearing or issuing an order under this section, the commission may refer the matter to the attorney general or other enforcement agency as provided in RCW 42.17.360.

          (4) The person against whom an order is directed under this section shall be designated as the respondent.  Such order may require the respondent to cease and desist from the activity which constitutes a violation and in addition, or alternatively, may impose one or more of the remedies provided in RCW 42.17.390(1) (b), (c), (d), or (e):  PROVIDED, That no individual penalty assessed by the commission may exceed ((two hundred fifty)) one thousand dollars, and in any case where multiple violations are involved in a single complaint or hearing, the maximum aggregate penalty may not exceed five ((hundred)) thousand dollars.

          (5) An order issued by the commission under this section shall be subject to judicial review under the administrative procedure act (chapter 34.04 RCW).  If the commission's order is not satisfied and no petition for review is filed within thirty days as provided in RCW 34.04.130, the commission may petition a court of competent jurisdiction of any county in which a petition for review could be filed under that section, for an order of enforcement.  Proceedings in connection with the commission's petition shall be in accordance with RCW 42.17.397, as now or hereafter amended.