Washington § 47.60.345 - Life-cycle cost model on capital assets.

Full text of Washington Revised Code of Washington § 47.60.345 — Life-cycle cost model on capital assets., with citation guidance and answers to common questions.

§ 47.60.345. Life-cycle cost model on capital assets.

(1) The department shall maintain a life-cycle cost model on capital assets such that:
(a) Available industry standards are used for estimating the life of an asset, and department-adopted standard life cycles derived from the experience of similar public and private entities are used when industry standards are not available;
(b) Standard estimated life is adjusted for asset condition when inspections are made;
(c) It does not include utilities or other systems that are not replaced on a standard life cycle; and
(d) It does not include assets not yet built.
(2) All assets in the life-cycle cost model must be inspected and updated in the life-cycle cost model for asset condition at least every three years.
(3) The life-cycle cost model shall be used when estimating future terminal and vessel preservation needs.
(4) The life-cycle cost model shall be the basis for developing the budget request for terminal and vessel preservation funding.
[ 2008 c 124 s 4; 2007 c 512 s 10.]

Notes

Finding—Intent—2007 c 512: See note following RCW 47.06.140.

Source: official Washington text · Last verified 2026-08-27

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Frequently Asked Questions About Washington § 47.60.345

What does Revised Code of Washington § 47.60.345 cover?

Section 47.60.345 ("Life-cycle cost model on capital assets.") is part of the Revised Code of Washington, the codified statutory law of Washington. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

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Is this the official text of Washington law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Washington official source linked on this page or consult a licensed Washington attorney.

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