BILL REQ. #: S-3627.2
State of Washington | 62nd Legislature | 2012 Regular Session |
Read first time 01/11/12. Referred to Committee on Transportation.
AN ACT Relating to sales and use taxes related to the state route number 16 corridor improvements project; and amending RCW 47.46.060.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1 RCW 47.46.060 and 2002 c 114 s 18 are each amended to read
as follows:
(1) Any person, including the department of transportation and any
private entity or entities, may apply for deferral of taxes on the site
preparation for, the construction of, the acquisition of any related
machinery and equipment ((which will)) that becomes a part of, and the
rental of equipment for use in the state route number 16 corridor
improvements project under this chapter. Application ((shall)) must be
made to the department of revenue in a form and manner prescribed by
the department of revenue. The application ((shall)) must contain
information regarding estimated or actual costs, time schedules for
completion and operation, and other information required by the
department of revenue. The department of revenue ((shall)) must
approve the application within sixty days if it meets the requirements
of this section.
(2) The department of revenue ((shall)) must issue a sales and use
tax deferral certificate for state and local sales and use taxes due
under chapters 82.08, 82.12, and 82.14 RCW on the project.
(3) The department of transportation or a private entity granted a
tax deferral under this section ((shall)) must begin paying the
deferred taxes in the fifth year after the date certified by the
department of revenue as the date on which the project is operationally
complete. The first payment is due on December 31st of the fifth
calendar year after such certified date, with subsequent annual
payments due on December 31st of the following nine years. Each
payment ((shall)) must equal ten percent of the deferred tax. The
project is operationally complete under this section when the
collection of tolls is commenced for the state route number 16
improvements covered by the deferral.
(4) The department of revenue may authorize an accelerated
repayment schedule upon request of the department of transportation or
a private entity granted a deferral under this section.
(5) Interest ((shall)) may not be charged on any taxes deferred
under this section for the period of deferral, although all other
penalties and interest applicable to delinquent excise taxes may be
assessed and imposed for delinquent payments under this section. The
debt for deferred taxes is not extinguished by insolvency or other
failure of the private entity. Transfer of ownership does not
terminate the deferral.
(6) Applications and any other information received by the
department of revenue under this section are not confidential and are
subject to disclosure. Chapter 82.32 RCW applies to the administration
of this section.
(7) Taxes due under chapters 82.08 and 82.12 RCW on the site
preparation for, the construction of, the acquisition of any related
machinery and equipment that will become a part of, and the rental of
equipment for use in the state route number 16 corridor improvements
project for which a deferral has been granted need not be repaid.