BILL REQ. #:  S-4384.1 

Read first time 01/21/08.   Referred to Committee on Economic Development, Trade & Management.

     AN ACT Relating to a statewide infrastructure investment strategy; and creating new sections.

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

NEW SECTION.  Sec. 1   The legislature finds that while state and local governments invest billions of dollars per year in infrastructure development and rehabilitation through numerous programs, there is no overall strategy guiding our state's infrastructure investments. The legislature also finds that the state often undertakes significant new policy initiatives that impact how infrastructure funds are spent, without identifying funding needs or sources necessary to achieve the policy objectives. Therefore, the legislature finds that a statewide infrastructure investment strategy is necessary to provide policy direction for our infrastructure investments and to identify sufficient and sustainable funding for infrastructure investments that will help the state achieve its policy priorities.

NEW SECTION.  Sec. 2   The office of financial management, in consultation with the joint legislative infrastructure oversight committee on a statewide infrastructure investment strategy created in section 3 of this act, is directed to develop a twenty-year statewide infrastructure investment strategy to provide policy direction for state infrastructure investments and identify sufficient and sustainable funding for investments needed to implement policy initiatives of the state. The strategy must provide the following:
     (1) Identify the state's financial responsibility for infrastructure investment necessary to achieve the state's policy goals and obligations over the next twenty years relating to:
     (a) Basic infrastructure;
     (b) Housing to accommodate growth;
     (c) Economic development;
     (d) Transportation mobility and congestion relief;
     (e) Parks and recreational facilities;
     (f) Open space and the environment;
     (g) K-12 and higher education;
     (h) Community development and arts facilities;
     (i) Historic and cultural sites; and
     (j) Criminal justice and public safety;
     (2) Identify appropriate funding sources and forecasted revenues during the next twenty years for infrastructure investments identified in categories outlined in subsection (1)(a) through (j) of this section;
     (3) In the event available funding falls short of identified need, identify potential new funding sources to meet the twenty-year funding need;
     (4) Determine whether existing state infrastructure funding programs appropriately reflect and support the achievement of the state's policy goals and obligations for the infrastructure categories identified in subsection (1)(a) through (j) of this section; and
     (5) Make appropriate recommendations for either restructuring state infrastructure funding assistance programs or creating new programs, or both, to help meet state policy goals and obligations. Recommendations must include criteria necessary for eligibility to receive funding assistance for each state infrastructure funding assistance program.

NEW SECTION.  Sec. 3   (1) The joint legislative infrastructure oversight committee on a statewide infrastructure investment strategy is created. The committee consists of the chair and ranking minority member of the following legislative committees:
     (a) The senate ways and means committee;
     (b) The house of representatives capital budget committee; and
     (c) The senate and house of representatives transportation committees.
     (2) The office of financial management and the joint legislative infrastructure oversight committee on a statewide infrastructure investment strategy must produce a progress report by December 1, 2008, for review by the appropriate standing committees of the legislature. During 2009, the office of financial management and the committee shall conduct public meetings with stakeholders to solicit input on the final report. The final report must be completed and submitted to the senate, the house of representatives, and the office of financial management by December 1, 2009.