5359-S AMS MCDD JONE 005

SSB 5359 - S AMD - 017

    By Senator McDonald

                                     NOT ADOPTED 2/24/99 - 21 - 27

    On page 2, line 4, strike the first "and"

    On page 2, line 5, after "act" and before the period, insert ", and to the education enhancement account for purposes set forth in section 4 of this act"

    On page 2, after line 12, strike all material down to and including line 17 and insert the following:

    "NEW SECTION. Sec. 4.  A new section is added to chapter 43.79 RCW to read as follows:

    The education enhancement account is created in the state treasury.  Moneys in the account may be spent only after appropriation and may be used exclusively for enhancing and improving the common school system of the state.

NEW SECTION. Sec. 5.  (1) For the 1999-01 fiscal biennium, the state treasurer shall transfer one hundred fifty million dollars from the tobacco settlement account to the tobacco prevention and control account upon authorization of the director of financial management.  The director shall authorize transfer of the total amount by June 30, 2001.

    (2) For the 2001-03 fiscal biennium, the state treasurer shall transfer one hundred fifty million dollars from the tobacco settlement account to the education enhancement account upon authorization of the director of financial management.  The director shall authorize transfer of the total amount by June 30, 2003."

    Renumber the sections consecutively and correct any internal references accordingly.

    On page 3, line 28, after "construction fund," insert "education enhancement account,"

    On page 6, line 22, after "construction fund," insert "education enhancement account,"

                            --- END ---

EFFECT: For the 1999-01 biennium, $150 million of the tobacco settlement moneys are deposited in the Tobacco Prevention & Control Account.  For the 2001-03 biennium, $150 million is deposited in the Education Enhancement Account for improvements to the K-12 system.