The bill amends the definition of "inflation rate" in RCW 79.105.060, which pertains to aquatic leases in Washington State. The new definition specifies that the inflation rate will be based on the consumer price index for all urban consumers, all items, for the Seattle metropolitan area as calculated by the United States Bureau of Labor Statistics or its successor agency. This replaces the previous reference to the commodity producer price index of the Bureau of Labor Statistics of the United States Department of Commerce. The bill also clarifies the geographic area considered as the "Seattle metropolitan area" for the purposes of this definition. In addition to the inflation rate modification, the bill includes various definitions related to aquatic lands, shorelands, tidelands, and water-dependent uses, among others. These definitions help to clarify the scope and application of the law concerning state-owned aquatic lands and their management. The bill was passed by both the Senate and House and was approved by the Governor, indicating a legislative consensus on the need to update the inflation rate definition to better reflect current economic conditions.

Statutes affected:
Original Bill: 79.105.060
Bill as Passed Legislature: 79.105.060
Session Law: 79.105.060