Washington Revised Code Title 43. State Government--Executive § 43.88.265. Construction accounts--Exception to certain accounting requirements
Current as of April 06, 2022 | Updated by FindLaw Staff
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In order to comply with the provisions of the federal tax reform act of 1986, construction accounts that receive bond proceeds are exempt from RCW 43.88.050, 43.88.110, and 43.88.260 and may incur seasonal cash deficits pending the sale of bonds or bond anticipation notes subject to the following conditions:
(1) The respective account has unexpended appropriation authority.
(2) There are authorized unissued bonds available for sale by the state finance committee under direction to deposit the proceeds of the sale in the respective account.
(3) The bonds are of an amount that would remedy the cash deficit if the bonds were sold.
Cite this article: FindLaw.com - Washington Revised Code Title 43. State Government--Executive § 43.88.265. Construction accounts--Exception to certain accounting requirements - last updated April 06, 2022 | https://codes.findlaw.com/wa/title-43-state-governmentexecutive/wa-rev-code-43-88-265.html
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