Z-1525               _______________________________________________

                                                   SENATE BILL NO. 4787

                        _______________________________________________

State of Washington                              49th Legislature                              1986 Regular Session

By Senators Talmadge, Zimmerman, Wojahn and Gaspard; by request of Legislative Budget Committee

Read first time 1/22/86 and referred to Committee on Transportation.

AN ACT Relating to the Puget Sound ferry system funding; amending RCW 47.60.505; creating a new section; and providing an effective date.

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

        Sec. 1.  Section 2, chapter 85, Laws of 1970 ex. sess. as last amended by section 3, chapter 27, Laws of 1979 and RCW 47.60.505 are each amended to read as follows:

          There is hereby created in the motor vehicle fund the Puget Sound capital construction account.  All moneys hereafter deposited in said account shall be used by the department of transportation for:

          (1) Reimbursing the motor vehicle fund for all transfers therefrom made in accordance with RCW 47.60.620; and

          (2) Improving the Washington state ferry system including, but not limited to, vessel acquisition, vessel construction, major and minor vessel improvements, terminal construction and improvements, and reconstruction or replacement of, and improvements to, the Hood Canal bridge, reimbursement of the motor vehicle fund for any state funds, other than insurance proceeds, expended therefrom for reconstruction or replacement of and improvements to the Hood Canal bridge, pursuant to proper appropriations((:  PROVIDED, That any funds accruing to the Puget Sound capital construction account after June 30, 1979, which are not required to reimburse the motor vehicle fund pursuant to RCW 47.60.620 as such obligations come due nor are required for capital improvements of the Washington state ferries pursuant to appropriations therefor shall from time to time as shall be determined by the department of transportation be transferred by the state treasurer to the Puget Sound ferry operations account in the motor vehicle fund)).

NEW SECTION. Sec. 2.     Section 1 of this act shall take effect on July 1, 1989.

NEW SECTION. Sec. 3.     By December 1, 1986, the transportation commission shall submit a proposed financial plan for the Puget Sound ferry system to the legislative transportation committee and the legislative budget committee.  The plan shall be consistent with the amendment of RCW 47.60.505 by section 1 of this act.