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A MOTION relating to identifying the future allocations of Puget Sound Taxpayers Accountability Account proceeds to priority educational areas and requesting the executive to develop plans to allocate proceeds within the priority educational areas.
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WHEREAS, the Washington state Legislature amended chapter 81.112 RCW via Chapter 44, Laws of Washington 2015 3rd Special Session, to create the Puget Sound Taxpayer Accountability Account, and
WHEREAS, the Puget Sound Taxpayer Accountability Account is to be funded by a sales and use tax offset fee of three and twenty-five one-hundredths percent of the total payments made by a regional transit authority to construction contractors on construction projects that are:
1. For new projects identified in the system plan funded by any proposition approved by voters after January 1, 2015; and
2. Excluded from the definition of retail sales under RCW 82.04.050(10), and
WHEREAS, between 2018 and 2035, King County is projected to receive approximately three hundred fifteen million dollars from the account, and
WHEREAS, the King County council adopted Motion 15029, which identified three priority areas to invest Puget Sound Taxpayer Accountability Account proceeds, which included:
1. Early learning;
2. K-12 education for vulnerable and underserved children and youth; and
3. College, career, and technical education, and
WHEREAS, Motion 15029 also included goals and principles to guide investment of Puget Sound Taxpayer Accountability Account proceeds, and
WHEREAS, Motion 15029 also directed council staff to work with a consultant, executive staff and stakeholders to develop an implementation plan for Puget Sound Taxpayer Accountability Account proceeds and to explore the educational needs for students in King County and the impacts of different strategies to meet those educational needs as well as a financial analysis of those strategies, and
WHEREAS, the educational needs assessment and impac...
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