2SHB 1705 -
By Representative Barlow
WITHDRAWN 03/09/2007
On page 3, line 28, strike "two authorities" and insert "one authority"
On page 3, line 34, strike "July 1, 2008" and insert "December 31, 2007"
On page 5, line 34, after "with the" insert "revenue generated by the tax authorized under section 11 of this act and"
On page 6, line 34, after "BONDS." insert "(1)"
On page 6, line 36, after "programs" strike "." and insert "and
retire the indebtedness in whole or in part from the funds distributed
pursuant to section 11 of this act and subject to the following
requirements:
(a) The ordinance adopted by the local government creating the
authority and authorizing the use of the excise tax in section 11 of
this act indicates an intent to incur this indebtedness and the maximum
amount of this indebtedness that is contemplated; and
(b) The local government includes this statement of the intent in
all notices.
(2)"
On page 7, after line 24, insert the following:
"NEW SECTION. Sec. 11 A new section is added to chapter 82.32
RCW to read as follows:
The department shall distribute, on a quarterly basis, to a local
government with a health sciences and services authority an amount
equal to .015 percent of the proceeds generated by the taxes authorized
under chapters 82.08 and 82.12 RCW within that local government's
jurisdiction during the previous quarter. The amounts received under
this section may only be used in accordance with section 6 of this act
or to finance and retire the indebtedness incurred pursuant to section
7 of this act, in whole or in part."
Renumber the remaining sections consecutively, correct internal references accordingly, and correct the title.
EFFECT: 1. Reduces the total number of authorities that can be
created statewide from 2 to 1.
2. Restores state sales and use tax diversion.
3. Changes application deadline from July 1, 2008, to December 31,
2007.
4. Restores bond provisions that refer to state sales and use tax
diversion.