H-1208.1  _______________________________________________

                          HOUSE BILL 1722

          _______________________________________________

State of Washington      56th Legislature     1999 Regular Session

By Representatives Carrell, Cairnes, Pennington, Talcott, McDonald, Benson, Pflug, Huff, Thomas, Clements, Fortunato, Mielke, Ericksen, Dunn and Esser

Read first time 02/03/1999.  Referred to Committee on Finance.

Eliminating the small district exemption from the property tax inflationary limit.

    AN ACT Relating to eliminating the small district exemption from the property tax revenue inflationary limit; and reenacting and amending RCW 84.55.005.

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

    Sec. 1.  RCW 84.55.005 and 1997 c 393 s 20 and 1997 c 3 s 201 (Referendum Bill No. 47) are each reenacted and amended to read as follows:

    As used in this chapter:

    (1) "Inflation" means the percentage change in the implicit price deflator for personal consumption expenditures for the United States as published for the most recent twelve-month period by the bureau of economic analysis of the federal department of commerce in September of the year before the taxes are payable;

    (2) "Limit factor" means:

    (a) ((For taxing districts with a population of less than ten thousand in the calendar year prior to the assessment year, one hundred six percent;

    (b))) For taxing districts for which a limit factor is authorized under RCW 84.55.0101, the lesser of the limit factor authorized under that section or one hundred six percent;

    (((c))) (b) For all other districts, the lesser of one hundred six percent or one hundred percent plus inflation; and

    (3) "Regular property taxes" has the meaning given it in RCW 84.04.140.

                            --- END ---