BILL REQ. #:  S-4667.1 

READ FIRST TIME 02/09/04.   

     AN ACT Relating to farms for the future of Washington; reenacting and amending RCW 43.79A.040; and adding new sections to chapter 15.04 RCW.

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

NEW SECTION.  Sec. 1   A new section is added to chapter 15.04 RCW to read as follows:
     The legislature finds that, to better attain the interdependent goals of continued existence of farmland and the economic viability of farms for the future of Washington, state government needs to affirmatively position itself to take maximum advantage of all available federal, regional, state, local, and private sources of funding and programs consistent with achieving these goals.
     The legislature finds that there are many other societal, environmental, and economic goals affecting farmland and on farming operations as demonstrated by the significant and permanent loss of agricultural lands and farm operations in many regions of the state. The legislature finds that a reasonable degree of accommodation can often be found between agriculture and these other societal, environmental, and economic pressures, including the need for land to locate residences and businesses, but such an accommodation requires a thorough understanding of the effects and opportunities to achieve an accommodation without further jeopardizing continued existence and viability of farms in the process.
     Because of this growing understanding, funding for several programs are being offered by the federal, regional, state, local, and private sources to enhance the opportunity of farms to exist, farmers to be economically viable, and farms to provide enhanced fish and wildlife habitat on private lands while retaining continued agricultural use.
     The legislature finds that the competitive marketplace for agricultural products is becoming more international and that the continued existence of a viable agricultural sector in Washington state depends on the feasibility of farms to compete successfully with its competitors.

NEW SECTION.  Sec. 2   A new section is added to chapter 15.04 RCW to read as follows:
     The farms for the future of Washington account is created in the custody of the state treasurer. Revenues to the account shall consist of appropriations made by the legislature or other federal, regional, local, or private funds that are suitable to further the purposes of section 1 of this act. Funds from this account may not be used to buy lands nor development rights to lands that have not been actively farmed for at least five years, nor to lands that have been divided into residential, commercial, or industrial lots. Only the director or the director's designee may authorize expenditures from the account. Up to five percent of the funds placed into the account may be used for administrative costs. State funds appropriated into the account are subject to allotment procedures under chapter 43.88 RCW, but an appropriation is not required for expenditures.

Sec. 3   RCW 43.79A.040 and 2003 c 403 s 9, 2003 c 313 s 10, 2003 c 191 s 7, 2003 c 148 s 15, 2003 c 92 s 8, and 2003 c 19 s 12 are each reenacted and amended to read as follows:
     (1) Money in the treasurer's trust fund may be deposited, invested, and reinvested by the state treasurer in accordance with RCW 43.84.080 in the same manner and to the same extent as if the money were in the state treasury.
     (2) All income received from investment of the treasurer's trust fund shall be set aside in an account in the treasury trust fund to be known as the investment income account.
     (3) The investment income account may be utilized for the payment of purchased banking services on behalf of treasurer's trust funds including, but not limited to, depository, safekeeping, and disbursement functions for the state treasurer or affected state agencies. The investment income account is subject in all respects to chapter 43.88 RCW, but no appropriation is required for payments to financial institutions. Payments shall occur prior to distribution of earnings set forth in subsection (4) of this section.
     (4)(a) Monthly, the state treasurer shall distribute the earnings credited to the investment income account to the state general fund except under (b) and (c) of this subsection.
     (b) The following accounts and funds shall receive their proportionate share of earnings based upon each account's or fund's average daily balance for the period: The Washington promise scholarship account, the college savings program account, the Washington advanced college tuition payment program account, the agricultural local fund, the American Indian scholarship endowment fund, the students with dependents grant account, the basic health plan self-insurance reserve account, the contract harvesting revolving account, the Washington state combined fund drive account, the Washington international exchange scholarship endowment fund, the developmental disabilities endowment trust fund, the energy account, the fair fund, the farms for the future of Washington account, the fruit and vegetable inspection account, the game farm alternative account, the grain inspection revolving fund, the juvenile accountability incentive account, the law enforcement officers' and fire fighters' plan 2 expense fund, the local tourism promotion account, the produce railcar pool account, the rural rehabilitation account, the stadium and exhibition center account, the youth athletic facility account, the self-insurance revolving fund, the sulfur dioxide abatement account, and the children's trust fund((, and the investing in innovation account)). However, the earnings to be distributed shall first be reduced by the allocation to the state treasurer's service fund pursuant to RCW 43.08.190.
     (c) The following accounts and funds shall receive eighty percent of their proportionate share of earnings based upon each account's or fund's average daily balance for the period: The advanced right of way revolving fund, the advanced environmental mitigation revolving account, the city and county advance right-of-way revolving fund, the federal narcotics asset forfeitures account, the high occupancy vehicle account, the local rail service assistance account, and the miscellaneous transportation programs account.
     (5) In conformance with Article II, section 37 of the state Constitution, no trust accounts or funds shall be allocated earnings without the specific affirmative directive of this section.