WSR 00-07-003

PERMANENT RULES

OFFICE OF THE

STATE TREASURER

[ Filed March 2, 2000, 2:05 p.m. ]

Date of Adoption: March 2, 2000.

Purpose: To align rule with RCW 43.250.060 and to provide added clarity on the rule that requires reimbursement for the administration and recovery of costs associated with the operation of the local government investment pool.

Citation of Existing Rules Affected by this Order: Amending WAC 210-01-120.

Statutory Authority for Adoption: Chapter 43.250 RCW.

Other Authority: RCW 43.250.090.

Adopted under notice filed as WSR 00-03-040 on January 13, 2000.

Number of Sections Adopted in Order to Comply with Federal Statute: New 0, Amended 0, Repealed 0; Federal Rules or Standards: New 0, Amended 0, Repealed 0; or Recently Enacted State Statutes: New 0, Amended 0, Repealed 0.

Number of Sections Adopted at Request of a Nongovernmental Entity: New 0, Amended 0, Repealed 0.

Number of Sections Adopted on the Agency's Own Initiative: New 0, Amended 1, Repealed 0.

Number of Sections Adopted in Order to Clarify, Streamline, or Reform Agency Procedures: New 0, Amended 1, Repealed 0.

Number of Sections Adopted Using Negotiated Rule Making: New 0, Amended 0, Repealed 0; Pilot Rule Making: New 0, Amended 0, Repealed 0; or Other Alternative Rule Making: New 0, Amended 1, Repealed 0. Effective Date of Rule: Thirty-one days after filing.

March 2, 2000

Douglas D. Extine

Deputy Treasurer


AMENDATORY SECTION(Amending WSR 96-18-029, filed 8/28/96)

WAC 210-01-120
Administrative ((fees)) deductions.

As authorized in RCW 43.250.060, the ((The)) state treasurer will ((charge a fee)) require reimbursement for the administration and recovery of costs associated with the operation of the local government investment pool. ((This fee will be set in a manner that will allow the state treasurer to recover costs associated with the pool. The fee)) The deduction for the amount to reimburse the office of the state treasurer will be based on the average daily balance of the funds deposited in the pool. Each participant will ((pay a proportionate share of the pool's expenses)) reimburse based upon its share of the total pool's assets. The ((fee)) deduction will be expressed as a percentage of the average daily funds on deposit in the pool for a specified period. ((This fee will be charged against)) This reimbursement will be deducted from each participants earnings prior to the credit of those earnings. The administrative ((fee)) deduction will be adjusted to reflect actual experience.

[Statutory Authority: RCW 43.250.090, 43.250.010, [43.250].020 and [43.250].040. 96-18-029, 210-01-120, filed 8/28/96, effective 9/28/96. Statutory Authority: 1986 c 294. 86-14-002 (Resolution No. 639), 210-01-120, filed 6/19/86.]

Washington State Code Reviser's Office