SB 5851 proposes to expand the Puget Sound Taxpayer Accountability Account such that money, created in the state treasury, can also be distributed to facilities and programs for children and youth who are low-income, homeless, or in foster care, or other vulnerable populations.
Counties may pledge and use distributions under this section to pay debt service on county bonds if the proceeds from such bonds are used for facilities or program costs authorized under subsection (1) (summarized above) of this section. Counties may use distributions under this section to start endowments to provide support for improving educational outcomes in early learning, K-12, and higher education.
Amends language below from shall to must:
Beginning on 9.1.2017 and then quarterly, the state treasurer must distributes monies deposited in the Puget Sound Taxpayer Accountability Account to counties for which a portion of the county is within the boundaries of a regional transit authority that includes a county with a population of 1,500,000. The treasurer must make the distribution to the counties on the relative basis of that transit authority's population that lives within the respective counties.
*Companion to HB 1791*
Updated on 4.12.19:
- Removed the provision allowing counties to pledge and use distributions from the PSTA Account to pay debt service on county bonds.
House Committee Amendments (Updated on 4.12.19):
- Added the authorization for the Legislature to appropriate a county's share of PSTAA revenues to the Department of Commerce as grants for expenditures in that county if the county has not levied the local mental health tax.