This bill aims to provide new funding tools to enhance community vitality in cities that host industrial and warehousing industries, particularly those near the ports of Seattle and Tacoma. It recognizes the negative fiscal impact of sales tax sourcing laws on these communities, which are vital to Washington's economy and have unique challenges due to their concentration of warehousing and manufacturing businesses. The bill introduces a new section to chapter 82.14 RCW, allowing cities with populations over 120,000 in counties with populations of 1.5 million or more to impose a sales and use tax of up to 0.3 percent, provided that more than 25 percent of the city's assessed valuation is zoned for industrial or warehousing uses.

The proposed tax can only be implemented starting July 1, 2025, and may last for a maximum of 20 years. It will be credited against state taxes and collected by the state at no cost to the city. Additionally, cities must engage in a public process when adopting their biennial budgets, which includes holding town hall meetings, providing budget information online, and conducting surveys to gather community input. The bill emphasizes the need for these funding tools to improve the quality of life for residents in these industrial areas and declares an emergency for its immediate effect.