SENATE BILL REPORT

SHB 2726

BYHouse Committee on Capital Facilities & Financing (originally sponsored by Representatives Schoon, Cantwell, Brumsickle, Moyer, Raiter, H. Myers, Hargrove, Smith, Nealey, Peery and Cooper)

Raising the debt funding limitation for certain port districts.

House Committe on Trade & Economic Development

Rereferred House Committee on Capital Facilities & Financing

Senate Committee on Governmental Operations

Senate Hearing Date(s):February 20, 1990

Majority Report:  Do pass.

      Signed by Senators McCaslin, Chairman; Thorsness, Vice Chairman; DeJarnatt, Patrick, Sutherland.

Senate Staff:Rod McAulay (786-7754)

                  February 21, 1990

AS REPORTED BY COMMITTEE ON GOVERNMENTAL OPERATIONS, FEBRUARY 20, 1990

BACKGROUND:

Port district activities are financed through fees for services, fees for the use of port land and facilities, property tax levies, receipts from the issuance of a variety of municipal bonds, and grants and gifts.  Ports may also issue industrial revenue bonds.

Indebtedness of a port district is not defined specifically in statute.

SUMMARY:

A county-wide port district with a population of fewer than 2,500 people may exclude debt on property leased to the federal government from the port debt limit.

Appropriation:    none

Revenue:    none

Fiscal Note:      none requested

Senate Committee - Testified: Rep. Dick Schoon