| Passed by the Senate March 5, 2012 YEAS 45 ________________________________________ President of the Senate Passed by the House March 8, 2012 YEAS 72 ________________________________________ Speaker of the House of Representatives | I, Thomas Hoemann, Secretary of the Senate of the State of Washington, do hereby certify that the attached is SUBSTITUTE SENATE BILL 6073 as passed by the Senate and the House of Representatives on the dates hereon set forth. ________________________________________ Secretary | |
| Approved ________________________________________ Governor of the State of Washington | Secretary of State State of Washington |
| State of Washington | 62nd Legislature | 2012 Regular Session |
READ FIRST TIME 02/27/12.
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)) eleventh 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)) eleventh 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.