H-4900              _______________________________________________

                                                   HOUSE BILL NO. 2009

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State of Washington                              50th Legislature                              1988 Regular Session

By Representatives Grimm and Holland

Read first time 2/5/88 and referred to Committee on Ways & Means.

AN ACT Relating to the treasury income account; and amending RCW 43.84.092.

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

        Sec. 1.  Section 51, chapter 57, Laws of 1985 and RCW 43.84.092 are each amended to read as follows:

          Except as provided in RCW 43.84.090, all earnings of investments of surplus balances in the state treasury shall be deposited to the treasury income account, which account is hereby established in the state treasury.

On or before June 30 of each year, the state treasurer shall distribute all earnings credited to the treasury income account as of May 31 to the funds for the fiscal year in which it was earned.  On or before July 20 of each year, the state treasurer shall distribute ((all)) earnings credited to the treasury income account ((as of)) for the period June 1 through June 30 to the funds for the fiscal year in which it was earned.  Except as otherwise provided by statute, the state treasurer shall credit the various accounts and funds in the state treasury their proportionate share of earnings based upon each fund's average daily balance for the period:  PROVIDED, That earnings on the balances of the forest reserve fund, the federal forest revolving fund, the liquor excise tax fund, the treasury income account, the suspense account, the undistributed receipts account, the state payroll revolving account, the agency vendor payment revolving fund, the local leasehold excise tax account, and the local sales and use tax account shall be credited to the state treasurer's service fund:  PROVIDED FURTHER, That earnings on the balances of the tort claims revolving fund, the agency payroll revolving fund, the special fund salary and insurance contribution increase revolving fund and special fund semimonthly payroll revolving fund shall be credited to the state general fund.