5614 AMS REAR WILS 060

SB 5614 - S AMD 366

By Senator Reardon

4/15/03 NOT ADOPTED

On page 2, after line 1, insert the following:

"Sec. 3. RCW 82.60.070 and 1999 c 164 s 303 are each amended to read as follows:

(1) Each recipient of a deferral granted under this chapter after June 30, 1994, shall submit a report to the department on December 31st of the year in which the investment project is certified by the department as having been operationally completed, and on December 31st of each of the seven succeeding calendar years. The report shall contain information, as required by the department, from which the department may determine whether the recipient is meeting the requirements of this chapter. The report shall at least contain the following information:

(a) Number of production workers;

(b) Average wage of production workers;

(d) Total sales as measured by taxable receipts for activities related to the deferral; and

(e) Total wages for production workers as a percent of total sales related to the deferral.

The department shall compile the information into a report containing aggregated data that does not violate any confidentially provisions and send an electronic copy to all members of the legislature on an annual basis.

If the recipient fails to submit a report or submits an inadequate report, the department may declare the amount of deferred taxes outstanding to be immediately assessed and payable.

(2) If, on the basis of a report under this section or other information, the department finds that an investment project is not eligible for tax deferral under this chapter, the amount of deferred taxes outstanding for the project shall be immediately due.

(3) Notwithstanding any other subsection of this section, deferred taxes need not be repaid on machinery and equipment for lumber and wood products industries, and sales of or charges made for labor and services, of the type which qualifies for exemption under RCW 82.08.02565 or 82.12.02565 to the extent the taxes have not been repaid before July 1, 1995.

(4) Notwithstanding any other subsection of this section, deferred taxes on the following need not be repaid:

(a) Machinery and equipment, and sales of or charges made for labor and services, which at the time of purchase would have qualified for exemption under RCW 82.08.02565; and

(b) Machinery and equipment which at the time of first use would have qualified for exemption under RCW 82.12.02565."

SB 5614 - S AMD

By Senator ....

On page 1, beginning on line 2 of the title, strike "and 82.50.050" and insert "82.60.050, and 82.60.070"

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EFFECT: Expands the information required to be reported by persons participating in the program.