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Staff briefs panel on bill that shifts transportation accounts and accelerates deferred tax repayments
Summary
House staff summarized substitute Senate Bill 58‑02, which would reallocate transfers between transportation accounts and the general fund and accelerate repayments of deferred bridge tax liabilities, producing near‑term general fund gains but a negative four‑year NGFO outlook; the bill includes both revenue shifts and future dedicated transfers.
House staff briefed the committee on substitute Senate Bill 58‑02, a complex proposal that shifts resources between accounts used in the operating and transportation budgets. The bill contains a mix of accelerated repayments of previously deferred sales and use taxes tied to the Tacoma Narrows Bridge and SR‑520 floating bridge, new transfers from the multimodal transportation account to the general fund, temporary suspensions or redirections of planned transfers, and a future dedication of a small portion (0.1 percentage points) of the state sales and use tax into the multimodal transportation account…
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