Z-0714.1                   _______________________________________________

                                                      HOUSE BILL 1504

                              _______________________________________________

State of Washington                              53rd Legislature                             1993 Regular Session

By Representatives Wang, Jacobsen, Romero, Wolfe and Morris; by request of Evergreen State College

Read first time 01/29/93.  Referred to Committee on Capital Budget.

Changing the disposition of certain normal school fund revenues.

          AN ACT Relating to disposition of certain normal school fund revenues; and amending RCW 28B.35.751.

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

        Sec. 1.  RCW 28B.35.751 and 1991 sp.s. c 13 s 95 are each amended to read as follows:

          All moneys received from the lease or rental of lands set apart by the enabling act for state normal schools purposes; all interest or income arising from the proceeds of the sale of such lands or of the timber, fallen timber, stone, gravel, or other valuable material thereon, less the allocation to the state treasurer's service ((account [fund])) fund pursuant to RCW 43.08.190 and the state investment board expense account pursuant to RCW 43.33A.160; and all moneys received as interest on deferred payments on contracts for the sale of such lands, shall from time to time be paid into the state treasury and credited to the Eastern Washington University, Central Washington University, Western Washington University and The Evergreen State College capital projects accounts as herein provided to be expended for capital projects, and bond retirement purposes as set forth in RCW 28B.35.750, as now or hereafter amended.  Eastern Washington University, Central Washington University, Western Washington University, and The Evergreen State College shall be credited with one-fourth of the total amount((:  PROVIDED, That Eastern Washington University, Central Washington University and Western Washington University shall each be credited with one-third of the total amount for so long as there remain unpaid and outstanding any bonds which are payable in whole or in part out of the moneys, interest or income described in this section)) beginning in the 2001-03 biennium.  In the 1995-97 biennium, The Evergreen State College shall receive one-sixteenth of the total amount not obligated to repayment of bonds; Eastern Washington University, Central Washington University, and Western Washington University shall receive equal amounts of the remaining amount.  In the 1997-99 biennium, The Evergreen State College shall receive one-eighth of the total amount not obligated to repayment of bonds; Eastern Washington University, Central Washington University, and Western Washington University shall receive equal amounts of the remaining amount.  In the 1999-2001 biennium, The Evergreen State College shall receive one-fifth of the total amount not dedicated to repayment of bonds; Eastern Washington University, Central Washington University, and Western Washington University shall each receive equal amounts of the remaining amount.

                                                           --- END ---