The bill amends various sections of the Revised Code of Washington (RCW) to streamline tax preferences related to sales and use taxes, particularly focusing on exemptions and credits. It introduces a new section that repeals several existing laws, including exemptions for state route No. 16 operations and sales of tangible personal property for aircraft modifications. The bill also reenacts and amends RCW 82.04.050, clarifying the definitions of "sale at retail" and "retail sale," while modifying the conditions under which certain sales are exempt from taxation. Additionally, it updates the definitions of "retail sale" and "manufacturer," excluding digital goods from the definition of "articles" and removing previous classifications of aluminum master alloy producers.

Furthermore, the bill establishes specific tax rates for various manufacturing sectors, including a preferential rate for dairy products and wood biomass fuel, while removing outdated provisions related to seafood products. It also introduces new definitions for timber and agricultural goods, mandates annual tax performance reports for businesses under specific tax rates, and clarifies exemptions related to hazardous substances and leasehold interests. The bill aims to enhance compliance and understanding of tax regulations among businesses and consumers, while promoting specific manufacturing sectors and improving the availability of low-income housing through structured compliance frameworks for qualifying grantees.

Statutes affected:
Original Bill: 82.04.110, 82.04.120, 82.04.260, 82.32.534, 82.04.43395, 74.60.010, 82.12.022, 82.21.040, 82.23A.030, 82.29A.130, 82.45.010, 82.45.030, 82.64.030, 84.36.010, 84.36.030