This bill aims to provide tax relief for businesses and properties affected by the closure of the Fairfax bridge. It introduces new sections to chapters 82.04 and 84.36 of the Revised Code of Washington (RCW). Specifically, starting July 1, 2026, businesses located within a defined "impact area" will be exempt from certain taxes during an "unmitigated bridge closure," which lasts until a new or replacement bridge is opened. The impact area is defined as any location within three miles of state route number 165, south of the junction with state route number 162. The tax relief provisions will expire on the first day of the calendar year following the opening of the new bridge.

Additionally, the bill exempts properties within the impact area from taxation for the calendar year 2026 and allows property owners to seek refunds for taxes paid during that year. The definitions of "impact area" and "unmitigated bridge closure" are consistent across both sections, ensuring clarity in the application of the tax relief. The bill also specifies that certain existing RCW provisions do not apply to this act, reinforcing its unique status in providing targeted assistance to affected areas.