5286‑S AMS LOVE HOEM 001
SSB 5286 - S AMD - 134
BySenators Loveland and Snyder
NOT ADOPTED 3/13/97
Strike everything after the enacting clause and insert the following:
"Sec. 1. RCW 84.36.070 and 1974 ex.s. c 118 s 1 are each amended to read as follows:
The following intangible property shall be exempt from ad valorem taxation:
(1)
All moneys and credits including mortgages, notes, accounts, certificates of
deposit, tax certificates, judgments, state, county and municipal bonds and
warrants and bonds and warrants of other taxing districts, bonds of the United
States and of foreign countries or political subdivisions thereof and the
bonds, stocks or shares of private corporations((,));
(2)
Private nongovernmental personal service contracts ((or)),
private nongovernmental athletic or sports franchises, or private
nongovernmental athletic or sports agreements provided that ((such)) the
contracts, franchises or agreements do not pertain to the use or possession of
tangible personal or real property or to any interest in tangible personal or
real property; and
(3) Trademarks, trade names, brand names, patents, copyrights, and trade secrets, licenses, permits, core deposits of financial institutions, noncompete agreements, customer lists, patient lists, favorable contracts, favorable financing agreements, reputation, exceptional management, prestige, good name, trained workforce, or integrity of a business.
NEW SECTION. Sec. 2. If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application of the provision to other persons or circumstances is not affected.
NEW SECTION. Sec. 3. This act is effective for taxes levied for collection in 1998 and thereafter."
SSB 5286 - S AMD - 134
By Senators Loveland and Snyder
NOT ADOPTED 3/13/97
On page 1, line 1 of the title, after "property;" strike the remainder of the title and insert "amending RCW 84.36.070; and creating a new section."
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