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2007 Senate Bill 5311: Creating the budget stabilization account.
Introduced by Sen. Lisa Brown, (D-Spokane) (D) on January 17, 2007
To create the budget stabilization account. This would be a constitutionally-protected rainy day account. Each year, 1% of general state revenues would be automatically deposited into the account. Money can only be appropriated by the Legislature if the Governor declares an emergency and immediate action is required, if there is an economic downturn, or at anytime a three-fifths majority of each chamber approves of the appropriation. This measure must be approved in conjunction with HCR 4202. See companion HB 1090.   Official Text and Analysis.
Referred to the Senate Ways & Means Committee on January 17, 2007
Substitute offered to the Senate Ways & Means Committee on February 8, 2007
To make technical corrections to correct statutory references to Senate Joint Resolution 8206.
The substitute passed by voice vote in the Senate on February 21, 2007
Referred to the Senate Rules Committee on February 8, 2007
Amendment offered by Sen. Joseph Zarelli, (R-Ridgefield) (R) on February 21, 2007
To make a technical correction to the legislation implementing SSJR 8206 (creating a Budget Stabilization Account). This technical correction is being made to make the implementing bill conform to the proposed floor amendment to SSJR 8206.
The amendment passed by voice vote in the Senate on February 21, 2007
Received in the House on February 23, 2007
Referred to the House Appropriations Committee on February 23, 2007
Signed by Gov. Christine Gregoire on May 15, 2007