HOUSE BILL REPORT
SHB 1299
As Passed House:
March 10, 2005
Title: An act relating to repealing outdated and unused tax preferences.
Brief Description: Repealing outdated and unused tax preferences.
Sponsors: By House Committee on Finance (originally sponsored by Representatives McIntire, Simpson, Morrell, McCoy, Roberts, Moeller, Wood and Chase).
Brief History:
Finance: 1/26/05, 2/4/05 [DPS].
Floor Activity:
Passed House: 3/10/05, 96-0.
Brief Summary of Substitute Bill |
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HOUSE COMMITTEE ON FINANCE
Majority Report: The substitute bill be substituted therefor and the substitute bill do pass. Signed by 9 members: Representatives McIntire, Chair; Hunter, Vice Chair; Orcutt, Ranking Minority Member; Roach, Assistant Ranking Minority Member; Ahern, Conway, Ericksen, Hasegawa and Santos.
Staff: Bob Longman (786-7139).
Background:
Tax exemptions, exclusions, deductions, credits, deferrals, and preferential rates are known
as tax preferences. The Department of Revenue publishes a report on tax preferences every
four years. The report covers more than 500 tax preferences and describes each preference,
the year of enactment, the purpose of the preference, an indication of primary beneficiaries,
and estimated fiscal impact.
The report shows several tax preferences for which no taxpayers have claimed relief in recent
years and that appear to be outdated or unnecessary.
Summary of Substitute Bill:
Tax preferences for which no taxpayers have claimed relief in recent years, and that appear to
be outdated or unnecessary, are repealed. The repealed tax preferences, year of enactment,
and current status are as follows.
Appropriation: None.
Fiscal Note: Available.
Effective Date: The bill takes effect July 1, 2006.
Testimony For: None.
(With concerns) (original bill) The State Housing Finance Commission tries to operate in
such a way that it does not need to use the exemption covering foreclosed property.
However, there may be some circumstances where the exemption is needed. Please do not
repeal this exemption.
Testimony Against: None.
Persons Testifying: (With concerns) Kim Herman, Washington State Housing Finance.