(1) The transportation 2003 account (nickel account) is hereby created in the motor vehicle fund. Money in the account may be spent only after appropriation. Expenditures from the account must be used only for projects or improvements identified as transportation 2003 projects or improvements in the omnibus transportation budget and to pay the principal and interest on the bonds authorized for transportation 2003 projects or improvements. Upon completion of the projects or improvements identified as transportation 2003 projects or improvements, moneys deposited in this account must only be used to pay the principal and interest on the bonds authorized for transportation 2003 projects or improvements, and any funds in the account in excess of the amount necessary to make the principal and interest payments may be used for maintenance on the completed projects or improvements.
(2) During the 2015-2017 fiscal biennium, the legislature may transfer from the transportation 2003 account (nickel account) to the connecting Washington account such amounts as reflect the excess fund balance of the transportation 2003 account (nickel account).
(3) During the 2017-2019 and the 2019-2021 fiscal biennia, the legislature may direct the state treasurer to make transfers of moneys in the transportation 2003 account (nickel account) to the connecting Washington account, the Puget Sound capital construction account, and the Tacoma Narrows toll bridge account.
(4) The "nickel account" means the transportation 2003 account.
[ 2019 c 416 § 706; 2017 c 313 § 708; 2015 3rd sp.s. c 43 § 603; 2003 c 361 § 601.]
NOTES:
Effective date—2019 c 416: See note following RCW 43.19.642.
Effective date—2017 c 313: See note following RCW 43.19.642.
Effective date—2015 3rd sp.s. c 43: See note following RCW 46.68.030.
Findings—2003 c 361: See note following RCW 82.38.030.
Effective dates—2003 c 361: See note following RCW 82.08.020.