HOUSE BILL REPORT

EHB 1718

BYRepresentatives Locke and May

Revising provisions on the limited waiver of the one hundred six percent property tax limit.

House Committe on Ways & Means/Revenue

Majority Report:  Do pass with amendment.  (9)

      Signed by Representatives Appelwick, Chair; Basich, Dellwo, Holland, Rust, Schoon, Taylor, Valle and Winsley.

House Staff:Rick Wickman (786-7136)

AS PASSED HOUSE FEBRUARY 13, 1988

BACKGROUND:

The statutes provide for a limited procedure in lifting the 106 percent property tax limitation affecting property tax levies.  Taxing districts are authorized to provide a proposition to the voters to lift the 106 percent limitation that limits the time period and the purpose for which the increased levy is to be made.

Procedures are also allowed for resetting the levy rate after the specified time has elapsed.

SUMMARY:

Procedures for a limited 106 percent levy lift are altered to specify that redemption payments on bonds shall not exceed seven years in duration in any voter approved waiver of the statutory limitation.

Revenue:    The bill has a revenue impact.

Fiscal Note:      Requested January 27, 1988

House Committee ‑ Testified For:    None Presented.

House Committee - Testified Against:      None Presented.

House Committee - Testimony For:    None Presented.

House Committee - Testimony Against:      None Presented.