2294 AMH ORCU LONG 93

HB 2294 - H AMD 595 SCOPE & OBJECT 6/10/2003

By Representative Orcutt

   On page 22, after line 28, insert:

   "NEW SECTION. Sec. 18. A new section is added to chapter 82.04 RCW to read as follows:

   (1) Effective October 1, 2005, all tax rates in effect under this chapter shall be reduced by twelve and one-half percent. Effective on the later of July 1, 2007, or the date final assembly of a superefficient airplane begins in Washington state, as determined under section 17 of this act, all tax rates in effect under this chapter shall be reduced by forty percent compared to the rates in effect September 30, 2005.

   (2) The rate reductions under this section do not apply to the rates in RCW 82.04.260(13)."

EFFECT: Extends the B&O rate reductions to all B&O taxpayers, not just the aerospace industry.