AN ACT Relating to requiring a study to evaluate the impact of the property tax levy limitation on cities, counties, special purpose districts, and property owners; creating a new section; and providing an expiration date.

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

(a) The impacts of the property tax levy limitation on:

(i) Actual property tax revenues of counties, cities, and other local jurisdictions and estimated property tax revenues had alternate revenue limitations under chapter 84.55 RCW been in effect;

(ii) The amount of property tax paid by commercial and residential property owners; and

(iii) Any other factors the department of revenue deems appropriate in terms of evaluating the impact of the property tax revenue limitation on cities, counties, special purpose districts, and property owners;

(b) Changes in the assessed value of property;

(c) Property tax revenues derived from modifications to the revenue limit as allowed under RCW 84.55.050; and

(d) Changes in total county tax revenues and county general fund expenditures, with a specific focus on county public safety expenditures over time.

(2) Nonpartisan legislative staff may assist with the study under this section.

(3) By December 30, 2015, and in compliance with RCW 43.01.036, the department of revenue must report the study findings to the appropriate committees of the legislature.

(4) This section expires December 30, 2016.

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