SENATE BILL REPORT
SB 6020
This analysis was prepared by non-partisan legislative staff for the use of legislative members in their deliberations. This analysis is not a part of the legislation nor does it constitute a statement of legislative intent. |
As of February 24, 2014
Title: An act relating to the capital budget.
Brief Description: Concerning the 2013-2015 supplemental capital budget.
Sponsors: Senators Honeyford and Keiser; by request of Governor Inslee.
Brief History:
Committee Activity: Ways & Means: 2/25/14.
SENATE COMMITTEE ON WAYS & MEANS |
Staff: Brian Sims (786-7431)
Background: Washington State operates on a biennial budget cycle. The Legislature authorizes expenditures for capital needs in the capital budget for a two-year period, and authorizes bond sales through passage of a bond bill associated with the capital budget to fund a portion of these expenditures. Approximately one-half of the capital budget is financed by these state-issued general obligation bonds; and the balance is funded by dedicated accounts, trust revenue, and federal funding sources. The primary two-year budget is passed in the odd-numbered years, and a supplemental budget making adjustments to the two-year budget often is passed during the even-numbered years. The current capital budget covers the period from July 1, 2013, through June 30, 2015.
Summary of Bill: Supplemental capital budget appropriation adjustments and alternative financing authorizations are made for the 2013-15 biennium.
Appropriation: The bill contains multiple appropriations.
Fiscal Note: Not requested.
Committee/Commission/Task Force Created: No.
Effective Date: The bill contains an emergency clause and takes effect immediately.