2396 AMH SULB CALL 121

HB 2396 - H AMD 773

By Representatives Sullivan and B.

WITHDRAWN 4/16/2007

   On page 2, line 19, after "changes" insert ", and to increase the money available to be invested in the permanent common school fund"

   On page 4, after line 3, insert the following:

   "Sec. 5. RCW 79.64.040 and 2005 c 518 s 945 are each amended to read as follows:

   (1) The board shall determine the amount deemed necessary in order to achieve the purposes of this chapter and shall provide by rule for the deduction of this amount from the moneys received from all leases, sales, contracts, licenses, permits, easements, and rights of way issued by the department and affecting state lands and aquatic lands, provided that no deduction shall be made from the proceeds from agricultural college lands.

   (2) Moneys received as deposits from successful bidders, advance payments, and security under RCW 79.15.100, 79.15.080, and 79.11.150 prior to December 1, 1981, which have not been subjected to deduction under this section are not subject to deduction under this section.

   (3) ((Except as otherwise provided in subsection (5) of this section,)) (a) The deductions authorized under this section shall not exceed twenty-five percent of the moneys received by the department in connection with any one transaction pertaining to ((state lands and)) aquatic lands other than second class tide and shore lands and the beds of navigable waters, and fifty percent of the moneys received by the department pertaining to second class tide and shore lands and the beds of navigable waters.

   (b) Prior to June 30, 2017, the deductions authorized under this section shall not exceed thirty percent of the moneys received by the department in connection with any one transaction pertaining to state lands. After July 1, 2017, the deductions authorized under this section shall not exceed twenty-five percent of the moneys received by the department in connection with any one transaction pertaining to state lands.

   (4) In the event that the department sells logs using the contract harvesting process described in RCW 79.15.500 through 79.15.530, the moneys received subject to this section are the net proceeds from the contract harvesting sale.

   (5) ((During the 2005-2007 fiscal biennium, the twenty-five percent limitation on deductions set in subsection (3) of this section may be increased to thirty percent by the board. If so increased, the department must provide a report by January 9, 2006, to the appropriate committees of the legislature on the use of the increased amount)) Beginning December 1, 2008, and continuing until December 1, 2017, the commissioner, on behalf of the board, shall report each biennium to the appropriate committees of the legislature a summary of any actions taken by the board to adjust management fees as authorized in subsection (3)(b) of this section."

   Correct the title.

EFFECT: States an intent to increase the amount of money available for the permanent common school fund and extends for ten years the ability of the Board of Natural Resources to retain up to 30 percent of the proceeds earned from transactions on state lands.