Wash. Rev. Code § 43.216.775

Current through 2024

Section 43.216.775 - Inflationary adjustments to rates

(1) Rates paid under RCW 43.216.592 must be adjusted every two years according to an inflationary increase. The inflationary increase must be calculated by applying the rate of the increase in the inflationary adjustment index to the rates established pursuant to RCW 43.216.592.

(2) Subject to the availability of amounts appropriated for this specific purpose, rates paid under RCW 43.216.579, 43.216.585, and 43.216.578 must be adjusted every two years according to an inflationary increase. The inflationary increase must be calculated by applying the rate of the increase in the inflationary adjustment index to the rates established pursuant to RCW 43.216.579, 43.216.585, and 43.216.578.

(3) Inflationary increases under subsection (1) of this section and any funded inflationary increase under subsection (2) of this section must be included in the rate used to determine inflationary increases in subsequent years.

(4) For the purposes of this section, "inflationary adjustment index" means the implicit price deflator averaged for each fiscal year, using the official current base rate, compiled by the bureau of economic analysis, United States department of commerce.

RCW 43.216.775

Amended by 2024 c 282,§ 3, eff. 11/1/2024.

Added by 2021 c 199,§ 106, eff. 7/25/2021.

Effective date- 2024 c 282: See note following RCW 43.216.812.

Short title-Findings-Intent-Conflict with federal requirements- 2021 c 199: See notes following RCW 43.216.770.