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2012 Senate Joint Resolution 8221: Amending the Constitution to include the recommendations of the commission on state debt
Introduced by Sen. Linda Evans Parlette (Wenatchee) (R) on January 16, 2012 Proposes to amend the Washington State Constitution to fix the limit for debt incurred after July 1, 2014, at 8.75 percent of the average of general state revenues for the previous six fiscal years. The definition of general state revenues includes property taxes deposited in the general fund. (Companion Bill: HJR 4226).   Official Text and Analysis.
Referred to the Senate Ways & Means Committee on January 16, 2012
Referred to the Senate Rules Committee on February 10, 2012
Amendment offered by Sen. Linda Evans Parlette (Wenatchee) (R) on March 5, 2012 Reduces the debt limit percentage to 8.5% from FY 2015 through FY 2017, 8.25% from FY 2017 through FY 2034, and 8.0% from FY 2035 and thereafter.
Passed 41 to 7 in the Senate on March 5, 2012 Reduces the constitutional debt limit over time from 9.0 percent to 8.0 percent by July 1, 2034. It is set at 8.5 percent starting July 1, 2014; 8.25 percent starting July 1, 2016, and 8.0 percent starting July 1, 2034. The percentage debt limit is applied to the average of general state revenues for the previous six fiscal years instead of the current three-year average. The definition of general state revenues includes property taxes deposited in the General Fund.
Received in the House on March 6, 2012
Referred to the House Capital Budget Committee on March 6, 2012
Received in the Senate on April 4, 2012
Referred to the Senate Rules Committee on April 5, 2012
Passed 41 to 7 in the Senate on April 5, 2012
Received in the House on April 5, 2012
Referred to the Senate Rules Committee on April 10, 2012
Received in the Senate on April 11, 2012
Passed 38 to 7 in the Senate on April 11, 2012
Received in the House on April 11, 2012
Passed 91 to 7 in the House on April 11, 2012 Provides that the constitutional debt limit is reduced over time from 9.0 percent to 8.0 percent by July 1, 2034. It is set at 8.5 percent starting July 1, 2014; 8.25 percent starting July 1, 2016, and 8.0 percent starting July 1, 2034. The percentage debt limit is applied to the average of general state revenues for the previous six fiscal years instead of the current three-year average. The definition of general state revenues includes property taxes deposited in the General Fund.

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