H-0405.1          _______________________________________________

                                  HOUSE BILL 1033

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State of Washington              54th Legislature             1995 Regular Session

By Representatives B. Thomas, Horn, Cooke, Dyer, Brumsickle, Carlson, Sehlin, Chandler, Lisk, Ballasiotes, Kremen, Costa, Mitchell, Mulliken, Silver and Morris

Prefiled 12/30/94.  Read first time 01/09/95.  Referred to Committee on Finance.

Exempting impact fees from property taxation.

     AN ACT Relating to exempting impact fees from property taxation; adding a new section to chapter 84.36 RCW; creating new sections; providing an effective date; and declaring an emergency.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION. Sec. 1.  A new section is added to chapter 84.36 RCW to read as follows:

     EXEMPT IMPACT FEES.  For new construction and improvements to property, a portion of the assessed value shall be exempt from taxation for four assessment years subsequent to the completion of the construction or improvement.  The exempt portion shall be an amount equal to the impact fees, as defined in RCW 82.02.090, that were paid in respect to the new construction or improvement.

NEW SECTION. Sec. 2.  EFFECTIVE YEAR.  Section 1 of this act is effective for taxes levied for collection in 1996 and thereafter.

NEW SECTION. Sec. 3.  CAPTIONS NOT LAW.  Captions as used in this act constitute no part of the law.

NEW SECTION. Sec. 4.  This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and shall take effect July 1, 1995.

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