BILL REQ. #: H-5107.1

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SUBSTITUTE HOUSE BILL 2270
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State of Washington

59th Legislature

2006 Regular Session

By House Committee on Finance (originally sponsored by Representatives McIntire and Murray)

READ FIRST TIME 02/07/06.

AN ACT Relating to excise tax relief for public development authorities; and adding a new section to chapter 82.04 RCW.

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

NEW SECTION.  Sec. 1   A new section is added to chapter 82.04 RCW to read as follows:
     This chapter does not apply to public development authorities created under RCW 35.21.660 or 35.21.730 through 35.21.755 in respect to amounts derived from providing services to:
     (1) A limited liability company in which the public development authority is the sole managing member;
     (2) A limited partnership in which the public development authority is the sole general partner; or
     (3) A single asset entity required under any federal, state, or local governmental housing assistance program, which is controlled directly or indirectly by the public development authority.

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