H-1842.1  _______________________________________________

                          HOUSE BILL 2025

          _______________________________________________

State of Washington      55th Legislature     1997 Regular Session

By Representatives Boldt and Schoesler

Read first time 02/18/97.  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; and creating a new section.

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:

    A portion of the assessed value of real property is exempt from tax.  The exempt portion is equal to impact fees, as defined in RCW 82.02.090, that have been paid in respect to construction or improvement on the property.

NEW SECTION. Sec. 2.  This act applies to taxes levied for collection in 1998 and thereafter.

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