On page 3, after line 7, insert the following:
     "(c) Counties, cities, or towns that collect impact fees may not defer any portion of the impact fee collected for school facilities.
     (d) Any agreement of covenant for deferral of payment of impact fees entered into or imposed under the authority of this section does not impact the validity of a contract, development, condition, or other agreement adopted under separate authority.
     (e) By December 1, 2014, the department of commerce, within existing resources, is to report to the legislature regarding deferrals created under this subsection and their outcomes.
     (f) Prior to the effective date of this section, any county, city, or town with an impact fee deferral process is exempt from the provisions of this section."

     On page 11, after line 20, insert the following:

     On page 1, beginning on line 2 of the title, after "covenants;" strike the remainder of the title and insert "amending RCW 82.02.050 and 36.70A.070; and providing an expiration date."