SB 5572 -
By Committee on Finance
ADOPTED 04/03/2007
Strike everything after the enacting clause and insert the following:
"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 corporations, commissions, or
authorities created under RCW 35.21.660 or 35.21.730 for amounts
derived from sales of tangible personal property and services to:
(1) A limited liability company in which the corporation,
commission, or authority is the managing member;
(2) A limited partnership in which the corporation, commission, or
authority is the 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 corporation, commission, or authority.
NEW SECTION. Sec. 2 A new section is added to chapter 82.08 RCW
to read as follows:
(1) The tax imposed by RCW 82.08.020 does not apply to sales of
tangible personal property and services provided by a public
corporation, commission, or authority created under RCW 35.21.660 or
35.21.730 to an eligible entity.
(2) For purposes of this section, "eligible entity" means a limited
liability company, a limited partnership, or a single asset entity,
described in section 1 of this act.
NEW SECTION. Sec. 3 A new section is added to chapter 82.12 RCW
to read as follows:
(1) The provisions of this chapter do not apply with respect to the
use of tangible personal property and services provided by a public
corporation, commission, or authority created under RCW 35.21.660 or
35.21.730 to an eligible entity.
(2) For purposes of this section, "eligible entity" means a limited
liability company, a limited partnership, or a single asset entity,
described in section 1 of this act."
EFFECT: Clarifies that tangible personal property is exempt from B&O and retail sales and use tax. Makes the language in the sales and use tax exemptions more uniform with the B&O exemption.