WSR 06-15-021

PERMANENT RULES

DEPARTMENT OF REVENUE


[ Filed July 7, 2006, 1:44 p.m. , effective August 7, 2006 ]


Effective Date of Rule: Thirty-one days after filing.

Purpose: WAC 458-61A-207 explains the exemption from real estate excise tax for transfers of real property under confirmed chapter 11 or confirmed chapter 12 bankruptcy plans. The department amended the rule to make minor editing changes to clarify the existing language in the rule. These editing changes do not change the effect of the previous version of this rule.

Citation of Existing Rules Affected by this Order: Amending WAC 458-61A-207 Bankruptcy.

Adopted under notice filed as WSR 06-10-091 on May 3, 2006.

Number of Sections Adopted in Order to Comply with Federal Statute: New 0, Amended 0, Repealed 0; Federal Rules or Standards: New 0, Amended 0, Repealed 0; or Recently Enacted State Statutes: New 0, Amended 0, Repealed 0.

Number of Sections Adopted at Request of a Nongovernmental Entity: New 0, Amended 0, Repealed 0.

Number of Sections Adopted on the Agency's Own Initiative: New 0, Amended 1, Repealed 0.

Number of Sections Adopted in Order to Clarify, Streamline, or Reform Agency Procedures: New 0, Amended 0, Repealed 0.

Number of Sections Adopted Using Negotiated Rule Making: New 0, Amended 0, Repealed 0; Pilot Rule Making: New 0, Amended 0, Repealed 0; or Other Alternative Rule Making: New 0, Amended 1, Repealed 0.

Date Adopted: July 7, 2006.

Janis P. Bianchi

Assistant Director

Interpretations and

Technical Advice Division

OTS-8847.1


AMENDATORY SECTION(Amending WSR 05-23-093, filed 11/16/05, effective 12/17/05)

WAC 458-61A-207   Bankruptcy.   (1) Introduction. The real estate excise tax does not apply to the conveyance of real property by a trustee in bankruptcy or debtor in possession made ((under either a)) after the plan is confirmed under a chapter 11 ((plan)) or ((a confirmed)) chapter 12 plan. Federal law preempts real estate excise tax on these transfers.

(2) Documentation requirements. A copy of the Order of Confirmation or an extract from the Confirmed Bankruptcy Plan, showing the date the bankruptcy plan was confirmed, the court case cause number, and the bankruptcy chapter number must be attached to the real estate excise affidavit provided to the department.

[Statutory Authority: RCW 82.32.300, 82.01.060(2), and 82.45.150. 05-23-093, 458-61A-207, filed 11/16/05, effective 12/17/05.]

Washington State Code Reviser's Office