5540 AMS BENT SIMP 204

SB 5540 - S AMD 60

By Senator Benton

NOT ADOPTED 3/05/2009

    On page 2, line 35, after "(2)", strike "A" and insert "Except as provided in subsection (6) of this section, a"

    On page 3, line 4, after "RCW 81.104.150", strike all material through the end of line 5 and insert "and 81.104.160."

    On page 3, after line 23, insert the following:

    "(6)(a) A high capacity transportation corridor area may not impose a sales and use tax under RCW 81.104.170, but instead may levy an ad valorem property tax in excess of the one percent limitation upon the property within the area for a one-year period whenever authorized by the voters of the district pursuant to RCW 84.52.052 and Article VII, section 2(a) of the state Constitution.

    (b) A high capacity transportation corridor area may provide for the retirement of voter-approved general obligation bonds, issued for capital purposes only, by levying bond retirement ad valorem property tax levies in excess of the one percent limitation whenever authorized by the voters of the district pursuant to Article VII, section 2(b) of the state Constitution and RCW 84.52.056."

    On page 4, after line 19, strike all of section 5

    Renumber the sections consecutively and correct any internal references accordingly.

EFFECT:   Prohibits a high capacity transportation corridor area from imposing a sales and use tax.  Allows a HCTCA to instead impose excess property taxes, subject to the constitutionally required supermajority vote of voters residing in the HCTCA boundaries.

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