2030.E AMS .... WILS 037

EHB 2030 - S AMD 305

By Senator Reardon

4/10/03 NOT ADOPTED

On page 9, after line 30, insert the following:

"NEW SECTION. Sec. 14. MUNICIPAL BUSINESS AND OCCUPATION TAX-- REVENUE NEUTRALITY. Notwithstanding RCW 35.21.710, a city that incurs a reduction in the business and occupation tax revenue due to the implementation of the apportionment formula under section 13 of this act shall have the authority to make such rate adjustments to offset any revenue losses. Such rate adjustments shall not be implemented prior to January 1, 2008."

Renumber the sections consecutively and correct any internal references accordingly.

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EFFECT: Allows cities that lose revenue from apportionment to increase their rates to compensate for the loss.