This bill amends existing Washington state laws regarding the use of local real estate excise tax revenues to include airport capital projects as an allowable expenditure. Specifically, it modifies RCW 82.46.010 and RCW 82.46.035 to allow counties and cities to use these tax revenues for the planning, construction, and improvement of airports that are part of the Washington aviation system plan or the national plan of integrated airport systems, provided they have fewer than 10,000 annual enplanements. Additionally, the bill clarifies that the installation or improvement of fuel systems for leaded fuel distribution at airports is not included as a capital project.

The bill also updates the tax rates for the excise tax on real property sales, changing the maximum rates from "one-quarter of one percent" to "0.25 percent" and from "one-half of one percent" to "0.5 percent." It establishes that revenues from these taxes must be used for capital projects specified in a comprehensive plan, with certain exceptions allowing for the use of a portion of the funds for the operation and maintenance of existing projects. Furthermore, it sets conditions for counties and cities that plan under specific state laws, ensuring that any tax imposition is approved by voters. Overall, the bill aims to enhance funding for airport infrastructure while maintaining accountability and transparency in the use of tax revenues.

Statutes affected:
Original Bill: 82.46.010, 82.46.035
Substitute Bill: 82.46.010, 82.46.035
Bill as Passed Legislature: 82.46.010, 82.46.035
Session Law: 82.46.010, 82.46.035