wa-law.org > bill > 2023-24 > SB 6311 > Original Bill
The legislature finds that the state saves taxpayer funds as a result of the extraordinary returns on the investment of pension funds by the state investment board. The legislature further finds that there is a significant need to investment in transportation projects. As such, the legislature intends to transfer a portion of the savings that are the result of extraordinary investment returns to be used for investments in the state's transportation system.
Beginning with rates adopted by the pension funding council for the 2025-2027 biennium, the state actuary shall estimate the amount of the savings that will accrue to the state general fund each year as a result of lower contribution rates resulting from deferred investment gains, net of deferred losses, as identified in RCW 41.45.035(4).
The state actuary shall report the estimated savings calculated under subsection (1) of this section to the office of the state treasurer.
Beginning June 1, 2026, and once per fiscal year thereafter, the state treasurer shall transfer to the motor vehicle fund from the general fund an amount to 50 percent of the amount calculated under section 2 of this act.