FINAL BILL REPORT

SHB 2964

                                 C 15 L 90 E1

BYHouse Committee on Capital Facilities & Financing (originally sponsored by Representatives Schoon, H. Sommers, P. King and Betrozoff)

Authorizing bonds for capital facilities.

House Committe on Capital Facilities & Financing

SYNOPSIS AS ENACTED

BACKGROUND:

The state of Washington periodically issues general obligation bonds to finance state capital construction projects. Specific legislative approval of a capital project is contained in the capital appropriations act.  Those capital appropriations in the capital budget requiring state bonding must have separate legislation authorizing the sale of the bonds.

The Department of Wildlife is the only state agency required by law to make payments on state owned game lands, equal to property tax, to local governments.  This provision was enacted to compensate local governments when the state purchased land and removed the land from the tax base.  This compensation may not be necessary when existing tax exempt land is simply transferred to the Department of Wildlife from another state agency.

SUMMARY:

The state finance committee is authorized to issue $177 million in state general obligation bonds to finance capital projects appropriated in the 1990 supplemental capital budget.  The $177 million in new bonding authority is distributed to the following accounts:  state building construction account $131 million; outdoor recreation account $26.5 million; habitat conservation account $26.5 million; state reimbursable account $8 million; and state social and health services construction account (-$2.7) million.  The balance of $12.3 million is excess bond authority from prior years resulting from lower than anticipated interest rates, expenditures, and other factors.

The 1989 distribution to the University of Washington building account is changed to the higher education construction account.

The public safety reimbursable bond account is created and the principal and interest on the $8 million in bonds issued from this account will be reimbursed from the public safety and education account.

The following bond statutes are reenacted to correct double amendments:  a)  Referendum 26 waste disposal facilities, 1972; b)  Referendum 38 water supply facilities, 1979; c)  Referendum 39 waste disposal and management facilities, 1980; and d)  Salmon enhancement facilities, 1977.

Lands transferred to the Department of Wildlife from other agencies are exempt from payments in lieu of property taxes.

VOTES ON FINAL PASSAGE:

Regular Session

      House 84  10

First Special Session

      House 87   9

      Senate    39     9

EFFECTIVE:April 23, 1990