5557-S2 AMS KAST BRUM 010

2SSB 5557 - S AMD 340

   By    Senator Kastama

ADOPTED 4/2/2007

   On page 2, line 14, after "(b)", strike all text through line 26 and insert:

"In implementing this section, the county shall consult with cities, towns, and port districts located within the county and the associate development organization serving the county to ensure that the expenditure meets the goals of chapter 130, Laws of 2004 and the requirements of (a) of this subsection. Each county collecting money under this section shall report, as follows, to the office of the state auditor, ((no later than October 1st)) within one hundred fifty days after the close of each fiscal year((,)): (i) A list of new projects ((from)) begun during the ((prior)) fiscal year, showing that the county has used the funds for those projects consistent with the goals of chapter 130, Laws of 2004 and the requirements of (a) of this subsection; and (ii) expenditures during the fiscal year on projects begun in a previous year. Any projects financed prior to June 10, 2004, from the proceeds of obligations to which the tax imposed under subsection (1) of this section has been pledged shall not be deemed to be new projects under this subsection."

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    EFFECT: The yearly reports to the Auditor are due within 150 days after the close of each fiscal year. The reports will include information on expenditures made on projects begun in prior years.