HB 2858, Rep. Norm Johnson (R-Yakima), would allow local governments that have been awarded Local Infrastructure Financing Tool (LIFT) funds to carry the funds forward for use in later years. The funds could be carried over to determine the state contribution amount if the revenues from local public sources dedicated in the preceding calendar year exceed the project award. This provision already exists in a similar program, Local Revitalization Financing (LRF).
AWC supports this measure as it makes common sense changes to the program and will allow participating LIFT projects to make the best use of the funds committed.