BILL REQ. #:  S-0199.1 

Read first time 01/10/2005.   Referred to Committee on Government Operations & Elections.

     AN ACT Relating to property tax levies; amending RCW 84.55.005; and repealing RCW 84.55.0101.

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

Sec. 1   RCW 84.55.005 and 2002 c 1 s 2 are each amended to read as follows:
     As used in this chapter:
     (1) "Inflation" means ((the percentage change in the implicit price deflator for personal consumption expenditures for the United States as published for the most recent twelve-month period by the bureau of economic analysis of the federal department of commerce in September of the)) the change in the consumer price index for the most recent twelve-month period, for the Seattle, Washington area, for urban wage earners and clerical workers, all items, compiled by the bureau of labor statistics, United States department of labor, for the calendar year before the taxes are payable;
     (2) "Limit factor" means((:
     (a) For taxing districts with a population of less than ten thousand in the calendar year prior to the assessment year, one hundred one percent;
     (b) For taxing districts for which a limit factor is authorized under RCW 84.55.0101, the lesser of the limit factor under that section or one hundred one percent;
     (c) For all other districts, the lesser of one hundred one percent or)) one hundred percent plus inflation; and
     (3) "Regular property taxes" has the meaning given it in RCW 84.04.140.

NEW SECTION.  Sec. 2   RCW 84.55.0101 (Limit factor -- Authorization for taxing district to use one hundred one percent or less -- Ordinance or resolution) and 2002 c 1 s 3 & 1997 c 3 s 204 are each repealed.