5045-S2 AMH KELL VANS 600

2SSB 5045 - H AMD TO FIN COMM AMD (H-3059.1/09) 686

By Representative Kelley

WITHDRAWN 4/16/2009

    On page 1, line 19 of the amendment, after "year" insert "and the additional amounts designated for demonstration projects in section 402 of this act"

    On page 6, line 8 of the amendment, after "401" insert "or section 402"

    On page 16, after line 20 of the amendment, insert the following:

    "NEW SECTION. Sec. 402.  A new section is added to chapter 82.14 RCW to read as follows:

    (1) Demonstration projects are designated to determine the feasibility of local revitalization financing.  For the purpose of this section, "annual state contribution limit" means one million nine hundred and ninety thousand dollars statewide per fiscal year. Notwithstanding section 401 of this act, the department shall approve each demonstration project as follows:

    (a) The Whitman county Pullman/Moscow corridor improvement project award shall not exceed two hundred thousand dollars;

    (b) The University Place improvement project award shall not exceed five hundred thousand dollars;

    (c) The Tacoma international financial services area/Tacoma dome project award shall not exceed five hundred thousand dollars;

    (d)  The Bremerton downtown improvement project award shall not exceed three hundred and twenty thousand dollars;

    (e) The Auburn downtown redevelopment project award shall not exceed two hundred and fifty thousand dollars; and

    (f) The Vancouver Columbia Waterfront/downtown project award shall not exceed two hundred and twenty thousand dollars.

    (2) Local government sponsors of demonstration projects must submit to the department no later than September 1, 2009, documentation that substantiates that the project has met the conditions, limitations, and requirements provided in this act.

    (3) Within sixty days of such submittal, the department shall approve demonstration projects that have met these conditions, limitations, and requirements.

    (4) Local government sponsors of demonstration projects may elect to decline the project awards as designated in this section, and may elect to submit applications according to the process described in section 401 of this act."

    On page 19, line 14 of the amendment, after "(5)(a)" strike "No" and insert "Except as provided in (c) of this subsection, no"

    On page 19, after line 27 of the amendment, insert the following:

    "(c) For a demonstration project described in section 402 of this act, no tax may be imposed under the authority of this section before:

    (i)  July 1, 2010; and

    (ii) Bonds have been issued according to section 701 of this act."     

EFFECT:   Provides for six named demonstration projects, sets their maximum award amounts, and timelines for submittals and approvals through the Department of Revenue.

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