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 individuals claiming the exemption to exclude rental amounts up to $6,000 per year received from renting living space in their principal residence. The bill clarifies that rental amounts from short-term rentals are not included in this exemption and must be reported as income. Additionally, the bill outlines that the new provisions will apply to taxes levied for collection in 2027 and thereafter.

Furthermore, the bill specifies that certain existing legal language is amended to accommodate these changes, including the definitions of "combined disposable income" and "rental amount." It also states that RCW 82.32.805 and 82.32.808 do not apply to this act, indicating the legislature's intent for the tax preference and its expansion 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 property tax exemption status.

Statutes affected:
Original Bill: 84.36.383