HB 1782 - DIGEST

     Provides that there may be credit against the tax imposed by chapter 82.04 RCW, the value of private contributions that are designed to assist in the development and operation of a downtown and neighborhood commercial district revitalization program.

     Provides that a physical improvement to a commercial building upon real property, that is located in an area designated by the department of community, trade, and economic development under this act, is exempt from taxation for the ten assessment years subsequent to the completion of the improvement, if the improvement meets the guidelines established by the local downtown and neighborhood commercial district revitalization program.

     Provides that, in order to implement the Washington main street program, the department shall:  (1) Provide technical assistance to businesses, property owners, organizations, and local governments undertaking a comprehensive downtown and neighborhood commercial district revitalization and management strategy within a specified area;

     (2) to the extent funds are made available, provide financial assistance to local governments or local organizations to assist in initial program start-up costs, specific project feasibility studies, market studies, and design assistance;

     (3) develop objective criteria for selecting recipients of financial assistance;

     (4) operate the Washington main street program in accordance with the plan developed by the department, in consultation with the Washington main street advisory committee;

     (5) allow certification of local downtown and neighborhood commercial district revitalization programs by local governments with a population greater than one hundred thousand; and

     (6) consider other factors the department deems necessary for the implementation of this act.