CITY OF SEATTLE
ORDINANCE __________________
COUNCIL BILL __________________
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AN ORDINANCE relating to Sweetened Beverage Tax revenues; creating a cash balance reserve in the Sweetened Beverage Tax Fund to offset future revenue shortfalls and maintain program expenditures; and amending Section 5.53.055 of the Seattle Municipal Code.
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WHEREAS, on June 5, 2017, the City Council passed Ordinance 125324, imposing a tax on engaging in the business of distributing sweetened beverages ("Sweetened Beverage Tax"), with specific direction on how the proceeds generated from the Sweetened Beverage Tax should be expended; and
WHEREAS, services funded by the proceeds of the Sweetened Beverage Tax are intended to expand access to healthy and affordable food; close the food security gap; promote healthy nutrition choices; reduce disparities in social, developmental, and education readiness and learning for children; assist high school graduates to enter college; and expand services for the birth-to-five population and their families; and
WHEREAS, on November 19, 2018, the City Council passed Ordinance 125718, amending Section 3 of Ordinance 125324 concerning use of proceeds of the Sweetened Beverage Tax, to account for higher revenue projections; and
WHEREAS, on July 22, 2019, the City Council passed Ordinance 125886, creating a fund for Sweetened Beverage Tax revenues and providing additional guidelines for expending proceeds; and
WHEREAS, this legislation will create a reserve to protect against future revenue shortfalls and is intended to encourage City departments to seek non-City funding sources to expand existing programs or create new programs that align with the financial policies of the Sweetened Beverage Tax; NOW, THEREFORE,
BE IT ORDAINED BY THE CITY OF SEATTLE AS FOLLOWS:
Section 1. Section 5.53.055 of the Seattle Municipal Code, last amended by Ordinance 125886, is amended as follows:
5.53.055 Sweetened beverage tax - Allocation of proceeds
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