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Bill #:  1789

Not tracked  Support

Granting greater flexibility with real estate excise tax proceeds

Companion bill #: No Companion Bill.



House - CMTE - DEAD


Summary/AWC comments


This bill, a priority for AWC, would harmonize the allowable expenditure of Real Estate Excise Taxes (REET). Under current law there are different allowable uses for the first 0.25% (REET 1) vs. the second 0.25% (REET 2) as shown in the chart below.  This bill would allow for both REET1 and REET2 to be used for all of the project types.



In addition, the bill allows REET proceeds to be used for on-going operation and maintenance of capital facilities. That use of the funds is currently set to expire in 2016. AWC and the Washington State Association of Counties are highly supportive of this bill.

HB 1789 sponsored by Rep. Larry Springer (D-Kirkland), is being heard on Tuesday, February 10 at 10 am in the House Local Government Committee.







 


Latest version of bill:

Link to WA Legislative bill page

Official title:

AN ACT Relating to granting counties and cities greater flexibility with real estate excise tax proceeds;

Sponsors:

Springer, Nealey, Fitzgibbon, Fagan, Tharinger, Takko, Reykdal, S. Hunt, Gregerson, Ryu, Peterson, Senn

Go To Bill #

 

AWC Contacts

Analyst:  Dave Catterson
Lobbyist:  Alison Hellberg

Issue Area

Infrastructure, Economic Development, & Transportation

Additional Info:


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