BILL REQ. #:  S-4096.1 

Read first time 01/22/10.   Referred to Committee on Ways & Means.

     AN ACT Relating to studying the elimination of property tax on personal property; and creating a new section.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION.  Sec. 1   (1) The legislature finds that the administration of the property tax on personal property is inefficient for government and business. The legislature concludes that a study is necessary to identify methods to best accomplish the elimination of the personal property tax.
     (2) The department of revenue must conduct a study on alternatives for eliminating the property tax on personal property. In conducting the study, the department must examine the cost of administering the tax, savings to government and taxpayers by eliminating the tax, the effect on property tax rates, and property tax shifts.
     (3) The department of revenue must seek the advice and input of local officials administering the property tax.
     (4) The department of revenue must present a final report of its findings and alternatives, including a legislative draft proposal, to the ways and means committee in the senate and the finance committee in the house of representatives by October 31, 2011.