HB 2416 -
By Senators Oemig, Kastama, Weinstein, Fairley, Pridemore
NOT ADOPTED 11/29/2007
On page 2, after line 6, insert the following:
"Sec. 2 RCW 84.55.010 and 2006 c 184 s 1 are each amended to read
as follows:
Except as provided in this chapter, the levy for a taxing district
in any year shall be set so that the regular property taxes payable in
the following year shall not exceed the limit factor multiplied by the
amount of regular property taxes lawfully levied for such district in
the highest of the three most recent years in which such taxes were
levied for such district plus an additional dollar amount calculated by
multiplying the increase in assessed value in that district resulting
from new construction, increases in assessed value due to construction
of electric generation wind turbine facilities classified as personal
property, improvements to property, and any increase in the assessed
value of state-assessed property by the regular property tax levy rate
of that district for the preceding year. The limit factor or an
alternative property tax proposal that is enacted by the legislature
shall be referred to the voters at the next general election."
Renumber the remaining sections consecutively.
On page 2, line 7, after "each" insert "reenacted and"
On page 2, line 18, after "Sec. 3." strike "This act applies" and insert "Sections 1 through 3 of this act apply"
On page 2, after line 19, insert the following:
"NEW SECTION. Sec. 5 The following acts or parts of acts are
each repealed:
(1) 2007 1st sp.s. c -- s 1 (section 1 of this act);
(2) 2007 1st sp.s. c -- s 3 (section 3 of this act); and
(3) 2007 1st sp.s. c -- s 4 (section 4 of this act).
NEW SECTION. Sec. 6 The secretary of state shall submit section
5 of this act to the people for their adoption and ratification, or
rejection, at the next general election to be held in this state, in
accordance with Article II, section 1 of the state Constitution and the
laws adopted to facilitate its operation, unless by July 1, 2008, the
legislature enacts a measure designated as an alternative property tax
proposal to refer to the voters at the 2008 general election.
NEW SECTION. Sec. 7 The legislature finds that there are
increasing demands upon local governments to provide public services.
At the same time, the legislature intends to protect homeowners, who
are experiencing a number of economic and financial challenges, from
overly burdensome property tax increases. Therefore, during the 2008
regular legislative session, the legislature shall consider the impacts
of the property tax revenue limits on local taxing districts. Further,
the legislature shall take action during the 2008 regular legislative
session to propose an alternative property tax proposal to be referred
to voters at the 2008 general election."
Renumber the remaining section consecutively.
On page 2, line 20, after "Sec. 4." strike "This act is" and insert "Sections 1 through 4 of this act are"
On page 2, line 22, strike "takes" and insert "take"
HB 2416 -
By Senators Oemig, Kastama, Weinstein, Fairley, Pridemore
NOT ADOPTED 11/29/2007
On page 1, line 2 of the title, after "747" strike the remainder of the title and insert "and referring the one percent property tax limit to voters at the 2008 general election or an alternative property tax proposal by the legislature during the 2008 regular legislative session; amending RCW 84.55.010; reenacting and amending RCW 84.55.005 and 84.55.0101; creating new sections; repealing 2007 1st sp.s. c -- s 1; repealing 2007 1st sp.s. c -- s 3; repealing 2007 1st sp.s. c -- s 4; providing for submission of certain sections of this act to a vote of the people; and declaring an emergency."
EFFECT: Reinstates the one percent property tax revenue limit adopted by voters under Initiative 747, but only if the one percent limit or a legislative alternative property tax proposal is referred to voters. Requires a voter referendum on retaining or repealing the Initiative 747 one percent property tax revenue limit, unless by July 1, 2008, the legislature enacts an alternative property tax proposal to refer to voters at the 2008 general election.