WA People
BILL · 2011–12 SESSION · LATEST VERSION SHB 2126

HB 2126: Public facil. district bonds

Creating a plan of finance to prevent the default of bonds issued by distressed public facilities districts.

Summary

  • Authorizes the state to make an immediate $42 million loan to a public facilities district (PFD) that is in imminent risk of default on its debt obligations.
  • Authorizes a PFD receiving a state loan, as well as any cities and counties forming the public facilities district, to impose an additional 0.2 percent sales and use tax.
  • Allows the state to divert various local sales and use taxes imposed by a PFD receiving a state loan, as well as any cities or counties forming the PFD, until the state loan is repaid in full.

From the House Bill Report (HB 2126), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · stalled on the House floor
  1. IntroducedNov 28, 2011
  2. Out of committeeNov 30, 2011
  3. Passed Housestopped here
  4. Passed Senate
  5. Governor
  6. Law
Prime sponsor
Mike Armstrong (R-12)
Introduced
November 28, 2011 in the House
Last action
April 11, 2012
Requested by
State agency
Companion bill
SB 5965
Budget
Has a fiscal note
Versions
HB 2126, SHB 2126

AN ACT Relating to a plan of finance to prevent the default of bonds issued by distressed public facilities districts;

Sponsors

Prime sponsor: Mike Armstrong (R-12)

2 co-sponsors (1 Democrat, 1 Republican)

Cary Condotta R-12Ross Hunter D-48

Votes

No recorded floor votes.

History

  1. By resolution, reintroduced and retained in present status. (SHB 2126)
  2. By resolution, reintroduced and retained in present status.
  3. By resolution, reintroduced and retained in present status. (SHB 2126)
  4. By resolution, reintroduced and retained in present status.
  5. House Rules "X" file. (SHB 2126)
  6. House Rules "X" file.
  7. By resolution, reintroduced and retained in present status. (SHB 2126)
  8. By resolution, reintroduced and retained in present status.
  9. Passed to Rules Committee for second reading. (SHB 2126)
  10. Passed to Rules Committee for second reading.
  11. Committee relieved of further consideration. (SHB 2126)
  12. Placed on second reading. (SHB 2126)
  13. Placed on second reading.
  14. Committee relieved of further consideration.
  15. Minority; do not pass. (SHB 2126)
  16. WAYS - Majority; 1st substitute bill be substituted, do pass. (SHB 2126)
  17. First reading, referred to Ways & Means.
  18. WAYS - Majority; 1st substitute bill be substituted, do pass.
  19. WAYS - Executive action taken by committee.
  20. Minority; do not pass.
  21. Prefiled for introduction.

HB 2126 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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