S-4623.1
SENATE BILL 6660
State of Washington
64th Legislature
2016 Regular Session
By Senators Keiser, Ericksen, Hargrove, Honeyford, Ranker, and Conway
Read first time 02/12/16. Referred to Committee on Ways & Means.
AN ACT Relating to the hazardous substance tax rate; amending RCW 82.21.030; and declaring an emergency.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1.  RCW 82.21.030 and 1989 c 2 s 10 are each amended to read as follows:
(1) A tax is imposed on the privilege of possession of hazardous substances in this state. The rate of the tax ((shall be)) is seven-tenths of one percent multiplied by the wholesale value of the substance.
(2)(a) If the amount of revenue collected in a calendar year, with the rate imposed in subsection (1) of this section in effect, is less than one hundred seventy-five million dollars, beginning July 1st of the following year, an additional rate of two-tenths of one percent must be added to the rate in subsection (1) of this section.
(b) If the amount of revenue collected in a calendar year, with the rates imposed in subsection (1) of this section and (a) of this subsection in effect, exceeds two hundred twenty million dollars, beginning July 1st of the following year, the rate in (a) of this subsection must be suspended.
(3) Moneys collected under this chapter ((shall)) must be deposited in the toxics control accounts under RCW 70.105D.070.
(((3))) (4) Chapter 82.32 RCW applies to the tax imposed in this chapter. The tax due dates, reporting periods, and return requirements applicable to chapter 82.04 RCW apply equally to the tax imposed in this chapter.
NEW SECTION.  Sec. 2.  This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and takes effect immediately.
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