H-0522.2
HOUSE BILL 1358
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State of Washington | 64th Legislature | 2015 Regular Session |
By Representatives MacEwen, Smith, Stambaugh, Muri, Buys, Griffey, Hayes, and Wilson
Read first time 01/19/15. Referred to Committee on Transportation.
AN ACT Relating to restricting the use of bond proceeds to pay certain taxes on transportation projects; amending RCW
39.42.040; and creating new sections.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1. The legislature intends this act to stop the policy of financing amounts that are used to pay sales and use taxes on transportation projects. This is a responsible way to reduce debt and the overall cost of projects.
NEW SECTION. Sec. 2. This act may be known and cited as the do not bond taxes act.
Sec. 3. RCW 39.42.040 and 1971 ex.s. c 184 s 4 are each amended to read as follows:
(1) The proceeds of the sale of any bonds shall be used solely for the purposes, including any expense incurred in connection with the issuance and sale of such bonds, specified in the general statute or special act authorizing the issuance of such bonds.
(2) The proceeds of the sale of any bonds issued for transportation purposes may not pay any tax levied pursuant to chapter 82.08, 82.12, or 82.14 RCW. --- END ---