S-1438               _______________________________________________

                                                   SENATE BILL NO. 4230

                        _______________________________________________

State of Washington                              49th Legislature                              1985 Regular Session

By Senators Thompson, McDermott, Zimmerman and Bauer

Read first time 2/8/85 and referred to Committee on Ways and Means.

AN ACT Relating to community colleges; amending RCW 84.33.041; and creating a new section.

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

NEW SECTION. Sec. 1.     The legislature finds that the community colleges of this state require more adequate and predictable capital funding for needed construction, renovation, and repair of buildings and facilities.  It is the purpose of this 1985 Community College Capital Funding Act to meet this need by dedicating state revenues derived from taxation of publicly-owned timber; thus, this state's great renewable resource will contribute to the personal growth of our citizens through community college educational opportunities.

        Sec. 2.  Section 2, chapter 204, Laws of 1984 and RCW 84.33.041 are each amended to read as follows:

          (1) An excise tax is imposed on every person engaging in this state in business as a harvester of timber on privately or publicly owned land.  The tax is equal to the stumpage value of timber harvested for sale or for commercial or industrial use multiplied by the rate provided in this chapter.

          (2) A credit is allowed against the tax imposed under this section for any tax paid under RCW 84.33.051.

          (3) Moneys received as payment for the tax imposed under this section on timber harvested from privately owned land and under RCW 84.33.051 shall be deposited in the timber tax distribution account hereby established in the state general fund.  Moneys received as payment for the tax imposed under this section on timber harvested from publicly owned land shall be deposited in the community college capital projects account created by RCW 28B.50.360 and shall only be used to reimburse the general fund for bonds authorized subsequent to the effective date of this 1985 act and for community college capital projects and facilities.