BILL REQ. #: Z-0003.2
State of Washington | 63rd Legislature | 2013 Regular Session |
Prefiled 12/03/12. Read first time 01/14/13. Referred to Committee on Appropriations Subcommittee on General Government.
AN ACT Relating to removing the requirement that earnings from the Washington horse racing commission operating account be credited to the Washington horse racing commission class C purse fund account; amending RCW 67.16.280; and reenacting and amending RCW 43.79A.040.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1 RCW 43.79A.040 and 2012 c 198 s 8, 2012 c 196 s 6, 2012 c
187 s 13, and 2012 c 114 s 3 are each reenacted and amended to read as
follows:
(1) Money in the treasurer's trust fund may be deposited, invested,
and reinvested by the state treasurer in accordance with RCW 43.84.080
in the same manner and to the same extent as if the money were in the
state treasury, and may be commingled with moneys in the state treasury
for cash management and cash balance purposes.
(2) All income received from investment of the treasurer's trust
fund must be set aside in an account in the treasury trust fund to be
known as the investment income account.
(3) The investment income account may be utilized for the payment
of purchased banking services on behalf of treasurer's trust funds
including, but not limited to, depository, safekeeping, and
disbursement functions for the state treasurer or affected state
agencies. The investment income account is subject in all respects to
chapter 43.88 RCW, but no appropriation is required for payments to
financial institutions. Payments must occur prior to distribution of
earnings set forth in subsection (4) of this section.
(4)(a) Monthly, the state treasurer must distribute the earnings
credited to the investment income account to the state general fund
except under (b), (c), and (d) of this subsection.
(b) The following accounts and funds must receive their
proportionate share of earnings based upon each account's or fund's
average daily balance for the period: The Washington promise
scholarship account, the Washington advanced college tuition payment
program account, the accessible communities account, the community and
technical college innovation account, the agricultural local fund, the
American Indian scholarship endowment fund, the foster care scholarship
endowment fund, the foster care endowed scholarship trust fund, the
basic health plan self-insurance reserve account, the contract
harvesting revolving account, the Washington state combined fund drive
account, the commemorative works account, the county enhanced 911
excise tax account, the toll collection account, the developmental
disabilities endowment trust fund, the energy account, the fair fund,
the family leave insurance account, the food animal veterinarian
conditional scholarship account, the fruit and vegetable inspection
account, the future teachers conditional scholarship account, the game
farm alternative account, the GET ready for math and science
scholarship account, the Washington global health technologies and
product development account, the grain inspection revolving fund, the
industrial insurance rainy day fund, the juvenile accountability
incentive account, the law enforcement officers' and firefighters' plan
2 expense fund, the local tourism promotion account, the multiagency
permitting team account, the pilotage account, the produce railcar pool
account, the regional transportation investment district account, the
rural rehabilitation account, the stadium and exhibition center
account, the youth athletic facility account, the self-insurance
revolving fund, the children's trust fund, the Washington horse racing
commission Washington bred owners' bonus fund and breeder awards
account, the Washington horse racing commission class C purse fund
account, the individual development account program account, the
Washington horse racing commission operating account (((earnings from
the Washington horse racing commission operating account must be
credited to the Washington horse racing commission class C purse fund
account))), the life sciences discovery fund, the Washington state
heritage center account, ((and)) the reduced cigarette ignition
propensity account, the center for childhood deafness and hearing loss
account, ((and)) the school for the blind account, the Millersylvania
park trust fund, the public employees' and retirees' insurance reserve
fund, and the radiation perpetual maintenance fund.
(c) The following accounts and funds must receive eighty percent of
their proportionate share of earnings based upon each account's or
fund's average daily balance for the period: The advanced right-of-way
revolving fund, the advanced environmental mitigation revolving
account, the federal narcotics asset forfeitures account, the high
occupancy vehicle account, the local rail service assistance account,
and the miscellaneous transportation programs account.
(d) Any state agency that has independent authority over accounts
or funds not statutorily required to be held in the custody of the
state treasurer that deposits funds into a fund or account in the
custody of the state treasurer pursuant to an agreement with the office
of the state treasurer shall receive its proportionate share of
earnings based upon each account's or fund's average daily balance for
the period.
(5) In conformance with Article II, section 37 of the state
Constitution, no trust accounts or funds shall be allocated earnings
without the specific affirmative directive of this section.
Sec. 2 RCW 67.16.280 and 2011 c 12 s 2 are each amended to read
as follows:
(1) The Washington horse racing commission operating account is
created in the custody of the state treasurer. All receipts collected
by the commission under RCW 67.16.105(2) must be deposited into the
account. The commission has the authority to receive such gifts,
grants, and endowments from public or private sources as may be made
from time to time in trust or otherwise for the use and purpose of
regulating or supporting nonprofit race meets as set forth in RCW
67.16.130 and 67.16.105(1); such gifts, grants, and endowments must
also be deposited into the account and expended according to the terms
of such gift, grant, or endowment. Moneys in the account may be spent
only after appropriation. Except as provided in subsection (2) of this
section, expenditures from the account may be used only for operating
expenses of the commission. ((Investment earnings from the account
will be retained in the Washington horse racing commission operating
account, pursuant to RCW 43.79A.040.))
(2) In order to provide funding in support of the legislative
findings in RCW 67.16.101 (1) through (3), and to provide additional
necessary support to the nonprofit race meets beyond the funding
provided by RCW 67.16.101(4) and 67.16.102(2), the commission is
authorized to spend up to three hundred thousand dollars per fiscal
year from its operating account for the purpose of developing the
equine industry, maintaining and upgrading racing facilities, and
assisting equine health research. When determining how to allocate the
funds available for these purposes, the commission must give first
consideration to uses that regulate and assist the nonprofit race meets
and equine health research. These expenditures may occur only when
sufficient funds remain for the continued operations of the horse
racing commission.