The bill introduces several modifications to Washington State's tax and revenue laws, focusing on real property assessment qualifications and tax exemptions for specific industries. It requires individuals assessing real property to pass the international association of assessing officers course 101 examination or an equivalent, as determined by the Department of Revenue. The legislation also establishes continuing education requirements for assessors and clarifies the exemption certificate process for sales tax, particularly concerning medical equipment and vending machine sales. Additionally, it extends preferential tax rates for manufacturers and wholesalers in the solar silicon industry by five to ten years to support job retention and growth, while mandating the Joint Legislative Audit and Review Committee to utilize annual tax performance report data for evaluations.

Moreover, the bill revises employment requirements and tax exemptions for eligible computer data centers, allowing owners to count net increases in family wage employment positions from qualifying tenants and updating the definition of family wage employment positions by adjusting the wage threshold from 150% to 125% of per capita personal income for exemption certificates issued after June 9, 2022. It emphasizes sustainability by requiring businesses to certify compliance with recognized green building standards and outlines penalties for non-compliance. The bill also introduces new definitions related to "replacement server equipment" and "qualifying businesses," while mandating the Department of Revenue to submit a report every four years starting in January 2029 on the revenue impact of tax exemptions. Notably, it deletes a previous provision exempting the Department of Revenue from preparing a listing for certain tax exemptions that would not likely increase state revenue if repealed.

Statutes affected:
Original Bill: 36.21.015, 82.08.050, 82.32.020, 43.06.400