H-0362.1  _______________________________________________

                          HOUSE BILL 1828

          _______________________________________________

State of Washington      56th Legislature     1999 Regular Session

By Representatives H. Sommers, Thomas, Ogden, Carlson, Quall, Lantz, Keiser, Veloria, Murray, Stensen, Schual‑Berke, Rockefeller, Edwards, Lovick, McIntire, Gombosky, Doumit, Dunshee, O'Brien, Poulsen, Cody, Wolfe, Kenney, Santos, Edmonds, Linville, Wood, Haigh, Regala, Conway, Dickerson, Tokuda, Kessler, Hurst, Miloscia, Ruderman, Anderson, Eickmeyer, Sullivan, Fisher, Scott, Constantine, Morris, Grant, Reardon, Romero, Kastama, Cooper, Hatfield and Kagi

Read first time 02/17/1999.  Referred to Committee on Appropriations.

Lowering the emergency reserve fund balance to provide additional education construction funds.

    AN ACT Relating to providing state assistance for school district plant facilities; amending RCW 43.135.045; making an appropriation; and providing for submission of this act to a vote of the people.

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

    Sec. 1.  RCW 43.135.045 and 1994 c 2 s 3 are each amended to read as follows:

    (1) The emergency reserve fund is established in the state treasury.  During each fiscal year, the state treasurer shall deposit in the emergency reserve fund all general fund‑-state revenues in excess of the state expenditure limit for that fiscal year.  Deposits shall be made at the end of each fiscal quarter based on projections of state revenues and the state expenditure limit.

    (2) The legislature may appropriate moneys from the emergency reserve fund only with approval of at least two-thirds of the members of each house of the legislature, and then only if the appropriation does not cause total expenditures to exceed the state expenditure limit under this chapter.

    (3) The emergency reserve fund balance shall not exceed ((five)) three percent of ((biennial)) annual general fund‑-state revenues as projected by the official state revenue forecast.  Any balance in excess of ((five)) three percent shall be transferred on a quarterly basis by the state treasurer to the education construction fund hereby created in the treasury.

    (4)(a) Funds may be appropriated from the education construction fund exclusively for common school construction or higher education construction.

    (b) Funds may be appropriated for any other purpose only if approved by a two-thirds vote of each house of the legislature and if approved by a vote of the people at the next general election.  An appropriation approved by the people under this subsection shall result in an adjustment to the state expenditure limit only for the fiscal period for which the appropriation is made and shall not affect any subsequent fiscal period.

NEW SECTION. Sec. 2.  The sum of ninety-five million dollars, or as much thereof as may be necessary, is appropriated for the biennium ending June 30, 2001, from the education construction fund to the common school construction fund for the purpose of financing the construction of school buildings.

NEW SECTION. Sec. 3.  The secretary of state shall submit this act to the people for their adoption and ratification, or rejection, at the next general election to be held in this state, in accordance with Article II, section 1 of the state Constitution and the laws adopted to facilitate its operation.

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