1705-S2 AMH BARL MITC 065

2SHB 1705 - H AMD 243

By Representative Hunter

ADOPTED 3/9/2007

   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:

   (1) Beginning October 1, 2007, the department shall distribute, on a quarterly basis, to a local government with a health sciences and services authority an amount equal to 0.0075 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.

   (2) This section expires January 1, 2013."

   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, however, includes January 1, 2013, expiration date.

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.