Improves the administration of state and local tax programs without impacting tax collections by providing greater consistency in numerous tax incentive programs.

Revises provisions relating to the confidentiality and disclosure of tax information.

Amends statutes to improve clarity and consistency, eliminate obsolete provisions, and simplify administration.

Declares an intent to create two sets of uniform reporting requirements that apply to the existing tax preferences and that can be used in future legislation granting additional tax preferences.

Requires the legislative fiscal committees or the department of revenue to study many of the existing tax preferences and report to the legislature at least once. Because chapter 43.136 RCW (termination of tax preferences) now requires the joint legislative audit and review committee, with support from the department of revenue, to comprehensively review most tax preferences every ten years and provide a report to the legislature, a number of redundant studies by the legislative fiscal committees and the department of revenue have been eliminated. However, the department of revenue will continue to prepare summary descriptive statistics by category and report the statistics to the legislature each year.

Provides that certain provisions of the act: (1) That relate to annual surveys and annual reports apply beginning with annual surveys and annual reports due in 2010 and thereafter;

(2) Apply to return or tax information in respect to the tax imposed under chapter 83.100 RCW (estate and transfer tax act) in the possession of the department of revenue on or after a certain date;

(3) Apply both retroactively and prospectively to estates of decedents dying on or after May 17, 2005; and

(4) Apply both prospectively and retroactively beginning with taxes levied for collection in 2002 and thereafter.