The bill amends several sections of the Revised Code of Washington (RCW) related to the administration of excise taxes by the Department of Revenue, specifically focusing on the deferral of sales and use taxes for certain investment projects in targeted underdeveloped urban areas. Key definitions are updated, including the clarification of terms such as "affordable homeownership housing," "conditional recipient," and "underdeveloped property." The bill introduces new requirements for conditional recipients, including the need to provide a copy of the city's determination regarding the completion of work and the eligibility for tax deferral. It also establishes a process for cities to notify recipients of tax deferral denials and outlines the appeal process for such decisions.

Additionally, the bill modifies the procedures for local real estate excise tax changes, stipulating that such changes can only take effect 75 days after the Department is notified and only on specific dates (January, April, or July). It also mandates that counties or cities provide written notification to the Department and the county treasurer, including necessary documentation if the change results from annexation. A new section is added to address lodging tax changes, mirroring the requirements for real estate excise tax changes, ensuring that local taxing authorities follow similar notification protocols. Overall, the bill aims to streamline the process for tax deferrals and changes while ensuring compliance and transparency in local tax administration.

Statutes affected:
Original bill: 82.92.010, 82.92.070, 82.92.090, 82.46.080