H-3896.1 _______________________________________________
HOUSE BILL 2541
_______________________________________________
State of Washington 55th Legislature 1998 Regular Session
By Representative Dyer
Read first time 01/15/98. Referred to Committee on Health Care.
AN ACT Relating to designation of tobacco settlement receipts; adding a new section to chapter 43.88 RCW; and adding a new section to chapter 48.14 RCW.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1. A new section is added to chapter 43.88 RCW to read as follows:
All tobacco settlement receipts received by any state officer or employee shall be deposited in the health services account. For the purposes of this section and section 2 of this act, "tobacco settlement receipt" means any money received by the state under a legal settlement, an act of the United States Congress, or both, for losses resulting from tobacco use.
NEW SECTION. Sec. 2. A new section is added to chapter 48.14 RCW to read as follows:
For each taxpayer under RCW 48.14.0201, the commissioner shall calculate a credit amount by multiplying the total amount of tobacco settlement receipts deposited in the health services account during the previous calendar year by the percentage that the tax paid by the taxpayer bears to the total tax paid by all taxpayers. Before May 1st of each year, the commissioner shall notify each taxpayer of the amount of credit applicable to the taxpayer. After receiving a notice of credit amount, the taxpayer may deduct the credit amount from any tax payments or prepayments due under RCW 48.14.0201 until the credit amount is exhausted. Unused credit amounts may be carried forward to subsequent years. For the purposes of this section, "tobacco settlement receipt" means the same as provided in section 1 of this act, and "tax paid" means the amount of tax paid under RCW 48.14.0201 with respect to premiums and prepayments received during the calendar year immediately preceding the date a credit amount is to be calculated.
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