Bill > HB1399

This bill, titled "Annually adjusting the limit on distribution of hazardous substance tax revenues to the state and local toxics control accounts to correct for inflation," proposes to amend existing Washington state law to ensure that the maximum amount of money that can be deposited into the state and local toxics control accounts from hazardous substance tax revenues is adjusted each year to account for inflation. Currently, there is a set limit on these distributions, and any revenue exceeding that limit goes into the environmental legacy stewardship account. This bill, by referencing RCW 70.105D.070 and RCW 70.105D.170, aims to automatically increase that distribution limit based on either the fiscal growth factor or the rate of increase in hazardous substance tax revenue, whichever is lower, thereby ensuring that the toxics control accounts receive an inflation-adjusted amount of funding annually.