The bill amends the definition of "inflation rate" in RCW 79.105.060, specifically for aquatic leases. The new definition specifies that the inflation rate for a given year will be based on the percentage change in the previous calendar year's consumer price index for all urban consumers in 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, which is now deleted from the law.

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 with detachable utilities, and stipulates that the owner or primary occupant must have held an ownership interest in a marina or a lease for marina space since before July 1, 2014. This change aims to provide clearer guidelines for what constitutes a water-dependent use in relation to state-owned aquatic lands.

Statutes affected:
Original Bill: 79.105.060