S-0237.1  _______________________________________________

                         SENATE BILL 5006

          _______________________________________________

State of Washington      54th Legislature     1995 Regular Session

By Senators Winsley, Haugen, McCaslin and Rasmussen

Read first time 01/09/95.  Referred to Committee on Ways & Means.

Lowering the state-authorized property tax rate.

    AN ACT Relating to lowering the state-authorized property tax rate; amending RCW 84.52.065; and creating a new section.

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

    Sec. 1.  RCW 84.52.065 and 1991 sp.s. c 31 s 16 are each amended to read as follows:

    Subject to the limitations in RCW 84.55.010, in each year the state shall levy for collection in the following year for the support of common schools of the state a tax of ((three)) two dollars and ((sixty)) ninety-five cents per thousand dollars of assessed value upon the assessed valuation of all taxable property within the state adjusted to the state equalized value in accordance with the indicated ratio fixed by the state department of revenue.

    As used in this section, "the support of common schools" includes the payment of the principal and interest on bonds issued for capital construction projects for the common schools.

NEW SECTION. Sec. 2.  This act shall apply to taxes payable in 1996 and thereafter.

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