SB 5700 - DIGEST

Provides that, in addition to the levy provided for in RCW 84.52.065, in each year the state shall levy for collection in the following year a state tax of twenty cents per thousand dollars of assessed value upon the assessed valuation of all taxable property within the state adjusted to the state equalized value in accordance with the indicated ratio fixed by the state department of revenue.

Provides that the taxes levied by the state under this act shall be deposited into the public health subsidy account hereby created in the state treasury. Money in the public health subsidy account may be spent first for distribution to public hospital districts under this act and second to the department of health solely for the purpose of maintaining and improving local public health services and for subsidizing emergency room care.

Provides that, beginning in calendar year 2006 and every year thereafter, the state treasurer shall distribute, based on calculations by the department of revenue, from the public health subsidy account to public hospital districts levying a regular ad valorem property tax in calendar year 2005 the amount of taxes collected by the public hospital district in calendar year 2005 as follows: (1) On June 1st, the state treasurer shall distribute fifty-five percent of the amount of taxes collected by the public hospital district in calendar year 2005.

(2) On December 1st, the state treasurer shall distribute forty-five percent of the amount of taxes collected by the public hospital district in calendar year 2005.

Provides that, for calendar years beginning in 2007, the distributions under this act shall equal the distributions from the previous year increased by the increase in the state property tax levy under this act from the previous year.

Appropriates the sum of twenty-one million dollars, or as much thereof as may be necessary, from the public health subsidy account to the state treasurer for the fiscal year ending June 30, 2006, for distribution to public hospital districts under this act.

Appropriates the sum of seventeen million dollars, or as much thereof as may be necessary, from the public health subsidy account to the state treasurer for the fiscal year ending June 30, 2007, for distribution to public hospital districts under this act.

Applies to taxes levied for collection in 2006 and thereafter.