The bill amends the definition of "inflation rate" in RCW 79.105.060, which pertains to aquatic leases in Washington State. The previous definition referenced the "all commodity producer price index" from the Bureau of Labor Statistics, which has been deleted. In its place, the new definition specifies that the "inflation rate" will now 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 change aims to provide a more localized and relevant measure of inflation for aquatic leases.

Additionally, the bill clarifies the definition of "water-dependent use" by including specific criteria for floating structures, such as vessels designed primarily as residences on the water. It stipulates that these vessels must have detachable utilities and that their owners or primary occupants must have held an ownership interest in a marina or a lease for marina space since before July 1, 2014. This amendment is intended to ensure that the classification of water-dependent uses accurately reflects current practices and ownership conditions.

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