| Washington State House of Representatives Office of Program Research |
BILL ANALYSIS |
| Finance Committee | |
HB 2460
This analysis was prepared by non-partisan legislative staff for the use of legislative members in
their deliberations. This analysis is not a part of the legislation nor does it constitute a
statement of legislative intent.
Brief Description: Concerning the leasehold excise tax exemption for certain amphitheater property.
Sponsors: Representative Fromhold.
Brief Summary of Bill |
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Hearing Date: 1/22/08
Staff: Don Taylor (786-7388).
Background:
The leasehold excise tax applies to publicly-owned property which is leased to private entities.
The purpose of the tax is to recognize that public property is not subject to property taxes;
without the in lieu excise tax such lessees would enjoy a tax advantage over competitors located
on real property which they own. The combined state and local government leasehold excise tax
rate is 12.84 percent of the contract rental payment (or fair market value of the lease).
In 2005 the Legislature enacted a leasehold excise tax exemption, targeted toward an
amphitheater facility located in Clark County. The facility must be located in a county with a
population of at least 350,000 but no greater than 425,000.
This facility opened in the city of Ridgefield in July of 2003.
The current population of Clark County is 415,000 as of April 1, 2007. The population of the
county will likely exceed the 425,000 limitation by 2008 or 2009.
Summary of Bill:
The population parameters in the statute remain unchanged. However, the law is amended to
specify that the county population had to be within the indicated range at the time the facility
first opened to the public.
The facility opened to the public in July of 2003, at which time the population of Clark County
was 372,300.
Appropriation: None.
Fiscal Note: Available.
Effective Date: The bill takes effect 90 days after adjournment of session in which bill is passed.