WSR 09-23-070

EXPEDITED RULES

DEPARTMENT OF REVENUE


[ Filed November 13, 2009, 2:27 p.m. ]

Title of Rule and Other Identifying Information: WAC 458-18-220 Refunds -- Rate of interest, this rule provides information about the annual rates of interest that apply to refunds of taxes made pursuant to RCW 84.69.010 through 84.69.090 in accordance with RCW 84.69.100.

NOTICE

THIS RULE IS BEING PROPOSED UNDER AN EXPEDITED RULE-MAKING PROCESS THAT WILL ELIMINATE THE NEED FOR THE AGENCY TO HOLD PUBLIC HEARINGS, PREPARE A SMALL BUSINESS ECONOMIC IMPACT STATEMENT, OR PROVIDE RESPONSES TO THE CRITERIA FOR A SIGNIFICANT LEGISLATIVE RULE. IF YOU OBJECT TO THIS USE OF THE EXPEDITED RULE-MAKING PROCESS, YOU MUST EXPRESS YOUR OBJECTIONS IN WRITING AND THEY MUST BE SENT TO Marilou Rickert, Department of Revenue, P.O. Box 47453, Olympia, WA 98504-7453, fax (360) 586-0127, e-mail MarilouR@dor.wa.gov , AND RECEIVED BY January 18, 2010.


Purpose of the Proposal and Its Anticipated Effects, Including Any Changes in Existing Rules: The amended rule includes the 2010 interest rate on refunds of taxes made pursuant to RCW 84.69.010 through 84.69.090 in accordance with RCW 84.69.100 and to judgments entered in favor [of] plaintiffs pursuant to RCW 84.68.030.

Copies of draft rules are available for viewing and printing on our web site at http://dor.wa.gov/content/FindALawOrRule/RuleMaking/agenda.aspx.

Reasons Supporting Proposal: RCW 84.69.100, the department to annually adopt a rule that specifies the amount of interest to be collected for each year property taxes were paid.

Statutory Authority for Adoption: RCW 84.08.010, 84.08.070, and 84.69.100.

Statute Being Implemented: RCW 84.69.010 through 84.69.100.

Rule is not necessitated by federal law, federal or state court decision.

Name of Proponent: Washington state department of revenue, governmental.

Name of Agency Personnel Responsible for Drafting: Marilou Rickert, 1025 Union Avenue S.E., Suite #544, Olympia, WA, (360) 570-6115; Implementation: Alan R. Lynn, 1025 Union Avenue S.E., Suite #544, Olympia, WA, (360) 570-6125; and Enforcement: Gilbert Brewer, 1025 Union Avenue S.E., Suite #544, Olympia, WA, (360) 570-6147.

November 13, 2009

Alan R. Lynn

Rules Coordinator

OTS-2687.1


AMENDATORY SECTION(Amending WSR 08-24-094, filed 12/2/08, effective 1/2/09)

WAC 458-18-220   Refunds -- Rate of interest.   The following rates of interest shall apply on refunds of taxes made pursuant to RCW 84.69.010 through 84.69.090 in accordance with RCW 84.69.100. The following rates shall also apply to judgments entered in favor of the plaintiff pursuant to RCW 84.68.030. The interest rate is derived from the equivalent coupon issue yield of the average bill rate for twenty-six week treasury bills as determined at the first bill market auction conducted after June 30th of the calendar year preceding the date the taxes were paid. The rate thus determined shall be applied to the amount of the judgment or the amount of the refund, until paid:


Year tax

paid

Auction

Year

Rate
1984 1983 9.29%
1985 1984 11.27%
1986 1985 7.36%
1987 1986 6.11%
1988 1987 5.95%
1989 1988 7.04%
1990 1989 8.05%
1991 1990 8.01%
1992 1991 5.98%
1993 1992 3.42%
1994 1993 3.19%
1995 1994 4.92%
1996 1995 5.71%
1997 1996 5.22%
1998 1997 5.14%
1999 1998 5.06%
2000 1999 4.96%
2001 2000 5.98%
2002 2001 3.50%
2003 2002 1.73%
2004 2003 0.95%
2005 2004 1.73%
2006 2005 3.33%
2007 2006 5.09%
2008 2007 4.81%
2009 2008 2.14%
2010 2009 0.29%

[Statutory Authority: RCW 84.69.100. 08-24-094, 458-18-220, filed 12/2/08, effective 1/2/09; 07-24-037, 458-18-220, filed 11/30/07, effective 12/31/07; 06-21-059, 458-18-220, filed 10/16/06, effective 11/16/06; 05-22-096, 458-18-220, filed 11/1/05, effective 12/2/05; 04-24-101, 458-18-220, filed 12/1/04, effective 1/1/05; 03-24-014, 458-18-220, filed 11/20/03, effective 12/21/03; 02-23-081, 458-18-220, filed 11/19/02, effective 12/20/02; 02-03-039, 458-18-220, filed 1/8/02, effective 2/8/02; 00-24-106, 458-18-220, filed 12/6/00, effective 12/31/00; 99-24-033, 458-18-220, filed 11/23/99, effective 12/24/99. Statutory Authority: RCW 84.08.010, 84.08.070 and 84.69.100. 99-01-066, 458-18-220, filed 12/14/98, effective 1/1/99; 98-01-177, 458-18-220, filed 12/23/97, effective 1/1/98; 97-02-068, 458-18-220, filed 12/31/96, effective 1/1/97; 96-01-093, 458-18-220, filed 12/19/95, effective 1/1/96; 95-06-044, 458-18-220, filed 2/24/95, effective 3/27/95; 94-05-063, 458-18-220, filed 2/11/94, effective 3/14/94. Statutory Authority: RCW 84.08.010 and 84.69.100. 93-06-096, 458-18-220, filed 3/3/93, effective 4/3/93; 92-17-027, 458-18-220, filed 8/11/92, effective 9/11/92; 91-15-024, 458-18-220, filed 7/11/91, effective 8/11/91. Statutory Authority: RCW 84.69.100 and 84.08.010(2). 89-10-067 (Order PT 89-6), 458-18-220, filed 5/3/89; 88-07-003 (Order PT 88-3), 458-18-220, filed 3/3/88. Statutory Authority: RCW 84.69.100 as amended by 1987 c 319 and 84.08.010(2). 87-19-141 (Order PT 87-7), 458-18-220, filed 9/23/87.]

Washington State Code Reviser's Office