This bill amends RCW 84.36.383 to include provisions regarding rental income for individuals eligible for certain property tax exemption programs. Specifically, it introduces a new definition of "combined disposable income" that allows for the inclusion of rental amounts up to $6,000 per year received from renting living space in the person's principal place of residence. The bill clarifies that rental amounts received from short-term rentals are not included in this exemption and must be reported as income. Additionally, the bill establishes that this act will apply to taxes levied for collection in 2027 and thereafter, and it specifies that certain existing laws (RCW 82.32.805 and 82.32.808) do not apply to this act, indicating the legislature's intent for the tax preference to be permanent.

Overall, the bill aims to provide financial relief to eligible individuals by allowing them to retain a portion of their rental income without affecting their qualification for property tax exemptions. The changes reflect a recognition of the financial challenges faced by individuals who may rely on rental income while also seeking property tax relief.

Statutes affected:
Original Bill: 84.36.383