HB 1004 - DIGEST

(SUBSTITUTED FOR - SEE 1ST SUB)

     Provides that, beginning on July 1, 2001, and each July 1st thereafter, the compensation amount specified in RCW 41.24.150 shall be readjusted to reflect the percentage change in the consumer price index, calculated as follows:  The index for the calendar year preceding the year in which the July calculation is made, to be known as "calendar year A," is divided by the index for the calendar year preceding calendar year A, and the resulting ratio is multiplied by the compensation amount in effect on June 30th immediately preceding the July 1st on which the respective calculation is made.  For the purposes of this provision, "index" means the same as the definition in RCW 2.12.037(1).