2875 AMH MCBR GEIG 056

HB 2875 - H AMD 983

By Representative McBride

    On page 1, line 9, after "labor and services rendered by" insert "or for"

    On page 2, line 6, after "If" strike "at any time"

    On page 2, line 8, after "purchaser" insert "within the five consecutive years from the date the housing is approved for occupancy"

    On page 2, line 11, after "payment." insert "The amount due under this subsection is payable by the affordable homeownership facilitator."   

    On page 7, line 4, after "Sec. 4." strike the remainder of the section and insert "This act takes effect October 1, 2018.

NEW SECTION. Sec. 5. This act expires October 1, 2028.

NEW SECTION. Sec. 6. RCW 82.32.808 does not apply to this act."

EFFECT:  (1) Provides that the retail sales tax exemption applies to eligible purchases of both labor and services rendered by and for affordable homeownership facilitators.

(2) Specifies that to avoid repayment of retail sales taxes exempt under this act, the self-help housing must be the primary dwelling of the initial low-income purchaser for five consecutive years from the date the housing is approved for occupancy.

(3) Provides that any tax repayment and interest is payable by the affordable homeownership facilitator.

(4) Removes the emergency clause.

(5) Adds an effective date of October 1, 2018.

(6) Adds an expiration date of October 1, 2028.

(7) Exempts the act from the tax preference performance statement and review requirements for new tax preferences.

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