Date of Adoption: December 31, 1999.

Purpose: To raise the bond cap allocation program fees to cover the costs of administering the program under Initiative 601 rules.

Citation of Existing Rules Affected by this Order: Amending WAC 365-135-020.

Statutory Authority for Adoption: Chapter 39.86 RCW.

Adopted under notice filed as WSR 99-20-077 on October 4, 1999.

Number of Sections Adopted in Order to Comply with Federal Statute: New 0, Amended 0, Repealed 0; Federal Rules or Standards: New 0, Amended 0, Repealed 0; or Recently Enacted State Statutes: New 0, Amended 0, Repealed 0.

Number of Sections Adopted at Request of a Nongovernmental Entity: New 0, Amended 0, Repealed 0.

Number of Sections Adopted on the Agency's Own Initiative: New 0, Amended 1, Repealed 0.

Number of Sections Adopted in Order to Clarify, Streamline, or Reform Agency Procedures: New 0, Amended 0, Repealed 0.

Number of Sections Adopted Using Negotiated Rule Making: New 0, Amended 0, Repealed 0; Pilot Rule Making: New 0, Amended 0, Repealed 0; or Other Alternative Rule Making: New 0, Amended 1, Repealed 0. Effective Date of Rule: Thirty-one days after filing.

December 30, 1999

Jean L. Ameluxen

Legislative Liaison

OTS-3476.1

AMENDATORY SECTION(Amending WSR 97-02-093, filed 1/2/97, effective 2/2/97)

WAC 365-135-020
Definitions.

The definitions in this section apply throughout this chapter unless the context clearly provides otherwise.

Allocation fee: The total fee paid by the issuer to the department for receiving allocation from the BCAP.      It is assessed by the department based on ((the following formula: 1/40 of one percent (.00025) of the approved allocation amount)) multiplying the requested allocation amount by the following figures:

December 31, 1999, through June 30, 2000	.00026
July 1, 2000, through June 30, 2001	.000269
July 1, 2001, and thereafter	.000277;

or five hundred dollars, whichever is greater.      The allocation fee, which includes the nonrefundable five hundred dollar filing fee, is due from the issuer upon filing an application.

Department: The Washington state department of community, trade, and economic development.

Extension fee: The fee the department may assess when an issuer requests and is granted an extension for issuing the allocation or carryforward of the allocation.      The amount of the fee will not exceed two hundred fifty dollars and is nonrefundable.

Filing fee: The nonrefundable five hundred dollar portion of the allocation fee.

Reallocation: The assignment of an unused portion of the state ceiling from one bond use category to another or the provision of a certificate of approval to any issuer for an allocation amount which previously had been returned to the department.

Statute: Chapter 39.86 RCW.

[Statutory Authority: Chapter 39.86 RCW and RCW 43.330.040 (2)(g). 97-02-093, § 365-135-020, filed 1/2/97, effective 2/2/97.      Statutory Authority: Chapter 39.86 RCW.      93-13-012 (Order 93-05), § 365-135-020, filed 6/7/93, effective 1/1/94.      Statutory Authority: 1987 c 297.      87-19-082 (Order 87-18), § 365-135-020, filed 9/16/87.]

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