This bill aims to increase the working families' tax credit in Washington State to better reflect the economic impact of property taxes included in rental amounts for residential tenants. It amends RCW 82.08.0206 to provide a refundable tax credit for eligible low-income individuals starting from calendar years after January 1, 2022. The bill specifies the refund amounts based on the number of qualifying children, with additional provisions for individuals who lease or rent their primary residence for at least 183 days. Starting in calendar year 2026, an additional $300 credit will be available for eligible renters, with adjustments for inflation beginning January 1, 2027.

The bill also includes new sections that clarify the administration of the tax credit, including application processes and eligibility verification. It establishes that refunds cannot be provided for any period before January 1, 2025, and outlines the department's responsibilities in protecting personal data and conducting public information campaigns. Additionally, it specifies that the tax preference performance statement will apply to the expansion of the tax preference in this act, and it ensures that the provisions of RCW 82.32.805 do not apply to this act.

Statutes affected:
Original Bill: 82.08.0206