The bill amends RCW 36.100.040 to update the regulations surrounding public facilities districts, particularly regarding the imposition of excise taxes on lodging. Key changes include the adjustment of the minimum number of lodging units from "forty" to "40" and from "sixty" to "60" for certain exemptions. Additionally, the bill introduces a new definition for "community-initiated equitable development," which focuses on strategic investments aimed at addressing social and economic disparities. It also specifies that 50% of tax revenue collected must be distributed to the county for community-initiated equitable development and affordable housing programs.

Furthermore, the bill establishes an expiration date of July 1, 2035, for the new provisions. It outlines the conditions under which public facilities districts can impose additional excise taxes, particularly in counties with populations over 1.5 million, and mandates that these taxes be used for specific purposes related to public facilities. The bill also includes provisions for quarterly payments to cities that have authorized short-term rental taxes, contingent upon certain conditions being met. Overall, the legislation aims to enhance funding for public facilities while ensuring that local communities benefit from the generated tax revenues.

Statutes affected:
Original Bill: 36.100.040
Bill as Passed Legislature: 36.100.040
Session Law: 36.100.040