2500-S AMH SIMP MATT 041

SHB 2500 - H AMD

By Representative Simpson

   On page 13, after line 4, insert the following:

   "NEW SECTION. Sec. 504. A new section is added to chapter 82.14 RCW to read as follows:

   A jurisdiction that realizes a gain in sales tax revenues under the authority of this chapter as a result of the implementation of sections 501 and 503 of this act shall reduce the rate of tax imposed accordingly for the purpose of effectively distributing the gained revenue to the citizens of the jurisdiction."

EFFECT: Requires local governments that gain revenue as a result of the implementation of the sourcing provisions of the bill to reduce sales tax rates for the purpose of distributing the new revenues to the citizens of the government.