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Bill #:  6120

Not tracked  Not tracked

Restoring funding to the Public Works Assistance Account beginning with the 2017- 19 biennium

Companion bill #: No Companion Bill.



Senate - CMTE


Summary/AWC comments


Background:
Historically the Public Works Assistance Account (PWAA, also known as the Public Works Trust Fund) was funded with loan repayments and interest, and certain state tax revenues as follows:

  • 6.1% of Real Estate Excise Tax (REET) revenues
  • 20% of Public Utility Tax (PUT) revenues on water distribution and 60% of Public Utility Tax revenues on sewer services
  • 100% of Solid Waste Tax revenues

Over the past several years the legislature has taken action to divert most of these tax revenues to the General Fund or the recently created Education Legacy Trust Account.

  • In 2011 all of the Solid Waste tax revenues were diverted to the General Fund through 2015. In 2013 this diversion was extended through 2019.
  • In 2013 all of the PUT revenues and two-thirds of the REET revenues were diverted through 2019.
  • Also in 2013 all of the cash that had accumulated in the PWAA ($277 million) was redirected to the General Fund.

Bill Summary:
This bill would end the diversion of the REET and PUT revenues (i.e. redirect them back to the Public Works Assistance Account) beginning July 1, 2017.  The overall effect is reduce the diversions down to four years rather than six.


Latest version of bill:

Link to WA Legislative bill page

Official title:

AN ACT Relating to funding the public works assistance account;

Sponsors:

Hobbs, Keiser, Chase, Cleveland, Eide, Hatfield, Billig, Conway

Go To Bill #

 

AWC Contacts

Analyst:  Dave Catterson
Lobbyist:  Alison Hellberg

Issue Area

Infrastructure, Economic Development, & Transportation

Additional Info:


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