BILL REQ. #: Z-0656.2
State of Washington | 63rd Legislature | 2014 Regular Session |
Read first time 01/15/14. Referred to Committee on Capital Budget.
AN ACT Relating to the computation of general state revenues in alignment with Article VIII, section 1 of the state Constitution; and reenacting and amending RCW 39.42.070.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1 RCW 39.42.070 and 2009 c 500 s 1 and 2009 c 479 s 24 are
each reenacted and amended to read as follows:
(1) On or after ((the effective date of this act)) July 1, 2014,
the treasurer shall compute general state revenues for the ((three))
six fiscal years immediately preceding such date and shall determine
the arithmetic mean ((thereof)) consistent with the definition of
general state revenue set forth in Article VIII, section 1 of the state
Constitution and subsection (2) of this section. As soon as is
practicable after the close of each fiscal year thereafter, he or she
shall do likewise.
(2) In determining the amount of general state revenues, the
treasurer shall include all state money received in the treasury from
each and every source ((whatsoever except)) but not including: (((1)))
(a) Fees and other revenues derived from the ownership or operation of
any undertaking, facility or project; (((2))) (b) moneys received as
gifts, grants, donations, aid or assistance or otherwise from the
United States or any department, bureau or corporation thereof, or any
person, firm or corporation, public or private, when the terms and
conditions of such gift, grant, donation, aid or assistance require the
application and disbursement of such moneys otherwise than for the
general purposes of the state of Washington; (((3))) (c) moneys to be
paid into and received from retirement system funds, and performance
bonds and deposits; (((4))) (d) moneys to be paid into and received
from trust funds ((including but not limited to moneys received from
taxes levied for specific purposes)) and the several permanent and
irreducible funds of the state and the moneys derived therefrom but
excluding bond redemption funds; (((5))) (e) moneys received from taxes
levied for specific purposes and required to be deposited for those
purposes into specified funds or accounts other than the general fund;
and (f) proceeds received from the sale of bonds or other evidences of
indebtedness.
(3) Upon computing general state revenues, the treasurer shall make
and file in the office of the secretary of state, a certificate
containing the results of such computations. Copies of said
certificate shall be sent to each elected official of the state and
each member of the legislature. The treasurer shall, at the same time,
advise each elected official and each member of the legislature of the
current available debt capacity of the state, and may make estimated
projections for one or more years concerning debt capacity.