CERTIFICATION OF ENROLLMENT

 

                  SUBSTITUTE SENATE BILL 5746

 

 

                   Chapter 132, Laws of 1999

 

 

                        56th Legislature

                      1999 Regular Session

 

 

MULTIPLE-UNIT DWELLINGS--TAX EXEMPTION

 

 

 

                    EFFECTIVE DATE:  7/25/99

Passed by the Senate March 11, 1999

  YEAS 44   NAYS 0

 

 

               BRAD OWEN

President of the Senate

 

Passed by the House April 9, 1999

  YEAS 92   NAYS 0

             CERTIFICATE

 

I, Tony M. Cook, Secretary of the Senate of the State of Washington, do hereby certify that the attached is  SUBSTITUTE SENATE BILL 5746 as passed by the Senate and the House of Representatives on the dates hereon set forth.

 

 

             CLYDE BALLARD

Speaker of the

      House of Representatives

            TONY M. COOK

                            Secretary

 

 

 

              FRANK CHOPP

Speaker of the

      House of Representatives

 

 

Approved April 28, 1999 Place Style On Codes above, and Style Off Codes below.  

                                FILED          

 

 

           April 28, 1999 - 4:23 p.m.

 

 

 

              GARY LOCKE

Governor of the State of Washington

                 Secretary of State

                 State of Washington


          _______________________________________________

 

                    SUBSTITUTE SENATE BILL 5746

          _______________________________________________

 

             Passed Legislature - 1999 Regular Session

 

State of Washington      56th Legislature     1999 Regular Session

 

By Senate Committee on Ways & Means (originally sponsored by Senators Wojahn and Rasmussen)

 

Read first time 02/26/1999.

Modifying certain exemption language for new and rehabilitated multiple-unit dwellings in urban centers.  


    AN ACT Relating to the exemption for new and rehabilitated multiple-unit dwellings in urban centers; and amending RCW 84.14.020 and 84.14.050.

 

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

 

    Sec. 1.  RCW 84.14.020 and 1995 c 375 s 5 are each amended to read as follows:

    (1) The value of new housing construction, conversion, and rehabilitation improvements qualifying under this chapter is exempt from ad valorem property taxation, for ten successive years beginning January 1 of the year immediately following the calendar year ((after)) of issuance of the certificate of tax exemption eligibility.  However, the exemption does not include the value of land or nonhousing-related improvements not qualifying under this chapter.

    (2) In the case of rehabilitation of existing buildings, the exemption does not include the value of improvements constructed prior to the submission of the application required under this chapter.  The incentive provided by this chapter is in addition to any other incentives, tax credits, grants, or other incentives provided by law.

    (3) This chapter does not apply to increases in assessed valuation made by the assessor on nonqualifying portions of building and value of land nor to increases made by lawful order of a county board of equalization, the department of revenue, or a county, to a class of property throughout the county or specific area of the county to achieve the uniformity of assessment or appraisal required by law.

 

    Sec. 2.  RCW 84.14.050 and 1997 c 429 s 43 are each amended to read as follows:

    An owner of property seeking tax incentives under this chapter must complete the following procedures:

    (1) In the case of rehabilitation or where demolition or new construction is required, the owner shall secure from the governing authority or duly authorized agent, before commencement of rehabilitation improvements or new construction, verification of property noncompliance with applicable building and housing codes;

    (2) In the case of new and rehabilitated multifamily housing, the owner shall apply to the city on forms adopted by the governing authority.  The application must contain the following:

    (a) Information setting forth the grounds supporting the requested exemption including information indicated on the application form or in the guidelines;

    (b) A description of the project and site plan, including the floor plan of units and other information requested;

    (c) A statement that the applicant is aware of the potential tax liability involved when the property ceases to be eligible for the incentive provided under this chapter;

    (3) The applicant must verify the application by oath or affirmation; and

    (4) The application must be ((made on or before April 1 of each year, and must be)) accompanied by the application fee, if any, required under RCW 84.14.080.  The governing authority may permit the applicant to revise an application before final action by the governing authority.


    Passed the Senate March 11, 1999.

    Passed the House April 9, 1999.

Approved by the Governor April 28, 1999.

    Filed in Office of Secretary of State April 28, 1999.