S-4066.1
SUBSTITUTE SENATE BILL 5902
State of Washington 68th Legislature 2024 Regular Session
By Senate Ways & Means (originally sponsored by Senators Van De Wege,
Liias, Mullet, Nobles, Saldaña, and Wagoner; by request of Parks and
Recreation Commission)
READ FIRST TIME 02/05/24.
1 AN ACT Relating to reinvesting account revenue for the purpose of
2 supporting the state park system; amending RCW 79A.05.170; reenacting
3 and amending RCW 43.84.092, 43.84.092, 43.84.092, 43.79A.040,
4 43.79A.040, and 43.79A.040; providing effective dates; and providing
5 expiration dates.
6 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
7 Sec. 1. RCW 43.84.092 and 2023 c 435 s 13, 2023 c 431 s 9, 2023
8 c 389 s 9, 2023 c 377 s 6, 2023 c 340 s 9, 2023 c 110 s 2, 2023 c 73
9 s 9, and 2023 c 41 s 3 are each reenacted and amended to read as
10 follows:
11 (1) All earnings of investments of surplus balances in the state
12 treasury shall be deposited to the treasury income account, which
13 account is hereby established in the state treasury.
14 (2) The treasury income account shall be utilized to pay or
15 receive funds associated with federal programs as required by the
16 federal cash management improvement act of 1990. The treasury income
17 account is subject in all respects to chapter 43.88 RCW, but no
18 appropriation is required for refunds or allocations of interest
19 earnings required by the cash management improvement act. Refunds of
20 interest to the federal treasury required under the cash management
21 improvement act fall under RCW 43.88.180 and shall not require
p. 1 SSB 5902
 1 appropriation. The office of financial management shall determine the
2 amounts due to or from the federal government pursuant to the cash
3 management improvement act. The office of financial management may
4 direct transfers of funds between accounts as deemed necessary to
5 implement the provisions of the cash management improvement act, and
6 this subsection. Refunds or allocations shall occur prior to the
7 distributions of earnings set forth in subsection (4) of this
8 section.
9 (3) Except for the provisions of RCW 43.84.160, the treasury
10 income account may be utilized for the payment of purchased banking
11 services on behalf of treasury funds including, but not limited to,
12 depository, safekeeping, and disbursement functions for the state
13 treasury and affected state agencies. The treasury income account is
14 subject in all respects to chapter 43.88 RCW, but no appropriation is
15 required for payments to financial institutions. Payments shall occur
16 prior to distribution of earnings set forth in subsection (4) of this
17 section.
18 (4) Monthly, the state treasurer shall distribute the earnings
19 credited to the treasury income account. The state treasurer shall
20 credit the general fund with all the earnings credited to the
21 treasury income account except:
22 (a) The following accounts and funds shall receive their
23 proportionate share of earnings based upon each account's and fund's
24 average daily balance for the period: The abandoned recreational
25 vehicle disposal account, the aeronautics account, the Alaskan Way
26 viaduct replacement project account, the ambulance transport fund,
27 the brownfield redevelopment trust fund account, the budget
28 stabilization account, the capital vessel replacement account, the
29 capitol building construction account, the Central Washington
30 University capital projects account, the charitable, educational,
31 penal and reformatory institutions account, the Chehalis basin
32 account, the Chehalis basin taxable account, the cleanup settlement
33 account, the climate active transportation account, the climate
34 transit programs account, the Columbia river basin water supply
35 development account, the Columbia river basin taxable bond water
36 supply development account, the Columbia river basin water supply
37 revenue recovery account, the common school construction fund, the
38 community forest trust account, the connecting Washington account,
39 the county arterial preservation account, the county criminal justice
40 assistance account, the covenant homeownership account, the deferred
p. 2 SSB 5902
 1 compensation administrative account, the deferred compensation
2 principal account, the department of licensing services account, the
3 department of retirement systems expense account, the developmental
4 disabilities community services account, the diesel idle reduction
5 account, the opioid abatement settlement account, the drinking water
6 assistance account, the administrative subaccount of the drinking
7 water assistance account, the early learning facilities development
8 account, the early learning facilities revolving account, the Eastern
9 Washington University capital projects account, the education
10 construction fund, the education legacy trust account, the election
11 account, the electric vehicle account, the energy freedom account,
12 the energy recovery act account, the essential rail assistance
13 account, The Evergreen State College capital projects account, the
14 fair start for kids account, the ferry bond retirement fund, the
15 fish, wildlife, and conservation account, the freight mobility
16 investment account, the freight mobility multimodal account, the
17 grade crossing protective fund, the higher education retirement plan
18 supplemental benefit fund, the Washington student loan account, the
19 highway bond retirement fund, the highway infrastructure account, the
20 highway safety fund, the hospital safety net assessment fund, the
21 Interstate 5 bridge replacement project account, the Interstate 405
22 and state route number 167 express toll lanes account, the judges'
23 retirement account, the judicial retirement administrative account,
24 the judicial retirement principal account, the limited fish and
25 wildlife account, the local leasehold excise tax account, the local
26 real estate excise tax account, the local sales and use tax account,
27 the marine resources stewardship trust account, the medical aid
28 account, the money-purchase retirement savings administrative
29 account, the money-purchase retirement savings principal account, the
30 motor vehicle fund, the motorcycle safety education account, the move
31 ahead WA account, the move ahead WA flexible account, the multimodal
32 transportation account, the multiuse roadway safety account, the
33 municipal criminal justice assistance account, the state parks
34 renewal and stewardship account, the oyster reserve land account, the
35 pension funding stabilization account, the perpetual surveillance and
36 maintenance account, the pilotage account, the pollution liability
37 insurance agency underground storage tank revolving account, the
38 public employees' retirement system plan 1 account, the public
39 employees' retirement system combined plan 2 and plan 3 account, the
40 public facilities construction loan revolving account, the public
p. 3 SSB 5902
 1 health supplemental account, the public works assistance account, the
2 Puget Sound capital construction account, the Puget Sound ferry
3 operations account, the Puget Sound Gateway facility account, the
4 Puget Sound taxpayer accountability account, the real estate
5 appraiser commission account, the recreational vehicle account, the
6 regional mobility grant program account, the reserve officers' relief
7 and pension principal fund, the resource management cost account, the
8 rural arterial trust account, the rural mobility grant program
9 account, the rural Washington loan fund, the second injury fund, the
10 sexual assault prevention and response account, the site closure
11 account, the skilled nursing facility safety net trust fund, the
12 small city pavement and sidewalk account, the snowmobile account, the
13 special category C account, the special wildlife account, the state
14 hazard mitigation revolving loan account, the state investment board
15 expense account, the state investment board commingled trust fund
16 accounts, the state patrol highway account, the state reclamation
17 revolving account, the state route number 520 civil penalties
18 account, the state route number 520 corridor account, the statewide
19 broadband account, the statewide tourism marketing account, the
20 supplemental pension account, the Tacoma Narrows toll bridge account,
21 the teachers' retirement system plan 1 account, the teachers'
22 retirement system combined plan 2 and plan 3 account, the tobacco
23 prevention and control account, the tobacco settlement account, the
24 toll facility bond retirement account, the transportation 2003
25 account (nickel account), the transportation equipment fund, the JUDY
26 transportation future funding program account, the transportation
27 improvement account, the transportation improvement board bond
28 retirement account, the transportation infrastructure account, the
29 transportation partnership account, the traumatic brain injury
30 account, the University of Washington bond retirement fund, the
31 University of Washington building account, the voluntary cleanup
32 account, the volunteer firefighters' relief and pension principal
33 fund, the volunteer firefighters' and reserve officers'
34 administrative fund, the vulnerable roadway user education account,
35 the Washington judicial retirement system account, the Washington law
36 enforcement officers' and firefighters' system plan 1 retirement
37 account, the Washington law enforcement officers' and firefighters'
38 system plan 2 retirement account, the Washington public safety
39 employees' plan 2 retirement account, the Washington school
40 employees' retirement system combined plan 2 and 3 account, the
p. 4 SSB 5902
 1 Washington state patrol retirement account, the Washington State
2 University building account, the Washington State University bond
3 retirement fund, the water pollution control revolving administration
4 account, the water pollution control revolving fund, the Western
5 Washington University capital projects account, the winter
6 recreational program account, the Yakima integrated plan
7 implementation account, the Yakima integrated plan implementation
8 revenue recovery account, and the Yakima integrated plan
9 implementation taxable bond account. Earnings derived from investing
10 balances of the agricultural permanent fund, the normal school
11 permanent fund, the permanent common school fund, the scientific
12 permanent fund, and the state university permanent fund shall be
13 allocated to their respective beneficiary accounts.
14 (b) Any state agency that has independent authority over accounts
15 or funds not statutorily required to be held in the state treasury
16 that deposits funds into a fund or account in the state treasury
17 pursuant to an agreement with the office of the state treasurer shall
18 receive its proportionate share of earnings based upon each account's
19 or fund's average daily balance for the period.
20 (5) In conformance with Article II, section 37 of the state
21 Constitution, no treasury accounts or funds shall be allocated
22 earnings without the specific affirmative directive of this section.
23 Sec. 2. RCW 43.84.092 and 2023 c 435 s 14, 2023 c 431 s 10, 2023
24 c 389 s 10, 2023 c 377 s 7, 2023 c 340 s 10, 2023 c 110 s 3, 2023 c
25 73 s 10, and 2023 c 41 s 4 are each reenacted and amended to read as
26 follows:
27 (1) All earnings of investments of surplus balances in the state
28 treasury shall be deposited to the treasury income account, which
29 account is hereby established in the state treasury.
30 (2) The treasury income account shall be utilized to pay or
31 receive funds associated with federal programs as required by the
32 federal cash management improvement act of 1990. The treasury income
33 account is subject in all respects to chapter 43.88 RCW, but no
34 appropriation is required for refunds or allocations of interest
35 earnings required by the cash management improvement act. Refunds of
36 interest to the federal treasury required under the cash management
37 improvement act fall under RCW 43.88.180 and shall not require
38 appropriation. The office of financial management shall determine the
39 amounts due to or from the federal government pursuant to the cash
p. 5 SSB 5902
 1 management improvement act. The office of financial management may
2 direct transfers of funds between accounts as deemed necessary to
3 implement the provisions of the cash management improvement act, and
4 this subsection. Refunds or allocations shall occur prior to the
5 distributions of earnings set forth in subsection (4) of this
6 section.
7 (3) Except for the provisions of RCW 43.84.160, the treasury
8 income account may be utilized for the payment of purchased banking
9 services on behalf of treasury funds including, but not limited to,
10 depository, safekeeping, and disbursement functions for the state
11 treasury and affected state agencies. The treasury income account is
12 subject in all respects to chapter 43.88 RCW, but no appropriation is
13 required for payments to financial institutions. Payments shall occur
14 prior to distribution of earnings set forth in subsection (4) of this
15 section.
16 (4) Monthly, the state treasurer shall distribute the earnings
17 credited to the treasury income account. The state treasurer shall
18 credit the general fund with all the earnings credited to the
19 treasury income account except:
20 (a) The following accounts and funds shall receive their
21 proportionate share of earnings based upon each account's and fund's
22 average daily balance for the period: The abandoned recreational
23 vehicle disposal account, the aeronautics account, the Alaskan Way
24 viaduct replacement project account, the ambulance transport fund,
25 the brownfield redevelopment trust fund account, the budget
26 stabilization account, the capital vessel replacement account, the
27 capitol building construction account, the Central Washington
28 University capital projects account, the charitable, educational,
29 penal and reformatory institutions account, the Chehalis basin
30 account, the Chehalis basin taxable account, the cleanup settlement
31 account, the climate active transportation account, the climate
32 transit programs account, the Columbia river basin water supply
33 development account, the Columbia river basin taxable bond water
34 supply development account, the Columbia river basin water supply
35 revenue recovery account, the common school construction fund, the
36 community forest trust account, the connecting Washington account,
37 the county arterial preservation account, the county criminal justice
38 assistance account, the covenant homeownership account, the deferred
39 compensation administrative account, the deferred compensation
40 principal account, the department of licensing services account, the
p. 6 SSB 5902
 1 department of retirement systems expense account, the developmental
2 disabilities community services account, the diesel idle reduction
3 account, the opioid abatement settlement account, the drinking water
4 assistance account, the administrative subaccount of the drinking
5 water assistance account, the early learning facilities development
6 account, the early learning facilities revolving account, the Eastern
7 Washington University capital projects account, the education
8 construction fund, the education legacy trust account, the election
9 account, the electric vehicle account, the energy freedom account,
10 the energy recovery act account, the essential rail assistance
11 account, The Evergreen State College capital projects account, the
12 fair start for kids account, the ferry bond retirement fund, the
13 fish, wildlife, and conservation account, the freight mobility
14 investment account, the freight mobility multimodal account, the
15 grade crossing protective fund, the higher education retirement plan
16 supplemental benefit fund, the Washington student loan account, the
17 highway bond retirement fund, the highway infrastructure account, the
18 highway safety fund, the hospital safety net assessment fund, the
19 Interstate 5 bridge replacement project account, the Interstate 405
20 and state route number 167 express toll lanes account, the judges'
21 retirement account, the judicial retirement administrative account,
22 the judicial retirement principal account, the limited fish and
23 wildlife account, the local leasehold excise tax account, the local
24 real estate excise tax account, the local sales and use tax account,
25 the marine resources stewardship trust account, the medical aid
26 account, the money-purchase retirement savings administrative
27 account, the money-purchase retirement savings principal account, the
28 motor vehicle fund, the motorcycle safety education account, the move
29 ahead WA account, the move ahead WA flexible account, the multimodal
30 transportation account, the multiuse roadway safety account, the
31 municipal criminal justice assistance account, the state parks
32 renewal and stewardship account, the oyster reserve land account, the
33 pension funding st