SB 5346 — Creating a legislative page scholarship program.

S-1316.1SUBSTITUTES-0706.2SENATE SENATE BILL 5346State of Washington65th Legislature2017 Regular SessionBy Senate Ways & Means (originally sponsored by Senators Walsh, Rolfes, Zeiger, Hobbs, Warnick, Pedersen, Nelson, Darneille, Kuderer, Hunt, Keiser, McCoy, Honeyford, Fain, Liias, Cleveland, Sheldon, Conway, Pearson, Frockt, Wilson, Bailey, and Hasegawa)READHasegawaRead FIRSTfirst TIMEtime 02/16/17.AN01/20/17. ACT Relating to creating a legislative page scholarship program;

reenactingReferred andto amendingCommittee RCWon 43.79A.040;State Government.AN ACT Relating to creating a legislative page scholarship program;

The program is called the Gina Grant Bull memorial legislative page scholarship program.NEW SECTION.  Sec. 2.  A new section is added to chapter 44.04 RCW to read as follows:(1) The secretary of the senate and the chief clerk of the house of representatives may solicit and accept gifts, grants, conveyances, bequests, and devises of real or personal property, or both, in trust or otherwise, and sell, lease, exchange, invest, or expend these donations or the proceeds, rents, profits, and income from the donations except as limited by the donor's terms.

Furthermore, this chapter does not prohibit any legislative member or legislative employee from soliciting gifts for the legislative page scholarship account.Sec. 5.  RCWaccount.--- 43.79A.040END and--- 2016 c 203 s 2, 2016 c 173 s 10, 2016 c 69 s 21, and 2016 c 39 s 7 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 24/7 sobriety account, the Washington promise scholarship account, the legislative page scholarship account, the Washington advanced college tuition payment program account, the Washington college savings program account, the accessible communities account, the Washington achieving a better life experience program 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 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 Washington sexual assault kit 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, the life sciences discovery fund, the Washington state heritage center account, the reduced cigarette ignition propensity account, the center for childhood deafness and hearing loss account, 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.--- END ---