Sec. 1. RCW 82.45.060 and 2017 3rd sp.s. c 10 s 13 are each amended to read as follows:Tax on sale of property.
(1) There is imposed an excise tax upon each sale of real property at the rate of one and twenty-eight one-hundredths percent of the selling price. Beginning July 1, 2013, and ending June 30, 2023 following rates multiplied by the selling price:
(a) Three-quarters percent if the selling price is less than two hundred fifty thousand dollars;
(b) One and twenty-eight one-hundredths percent if the selling price is equal to or greater than two hundred fifty thousand dollars but less than one million dollars;
(c) Two percent if the selling price is equal to or greater than one million dollars but less than five million dollars; or
(d) Two and one-half percent if the selling price is equal to or greater than five million dollars.
(2)(a) Beginning July 1, 2013, through June 30, 2019, an amount equal to two percent of the proceeds of this tax must be deposited in the public works assistance account created in RCW 43.155.050, and an amount equal to four and onetenth percent must be deposited in the education legacy trust account created in RCW 83.100.230. Thereafter, an amount equal to six and one-tenth percent of the proceeds of this tax to the state treasurer must be deposited in the public works assistance account created in RCW 43.155.050. Except as otherwise provided in this section, an amount equal to one and six-tenths percent of the proceeds of this tax to the state treasurer must be deposited in the city-county assistance account created in RCW 43.08.290. Beginning July 1, 2013, and ending June 30, 2023, the revenues received from the tax in this section must be deposited as follows:
(i) Two percent must be deposited into the public works assistance account created in RCW 43.155.050;
(ii) Twenty and eight-tenths percent must be deposited into the education legacy trust account created in RCW 83.100.230, except that beginning July 1, 2019, through June 30, 2020, nineteen and sixty four-hundredths percent must be deposited into the education legacy trust account created in RCW 83.100.230;
(iii) One and six-tenths percent must be deposited into the city-county assistance account created in RCW 43.08.290; and
(iv) The remainder must be deposited into the general fund.
(b) Beginning July 1, 2023, and thereafter, the revenues received from the tax in this section must be deposited as follows:
(i) Six and one-tenth percent must be deposited into the public works assistance account created in RCW 43.155.050;
(ii) Sixteen and seven-tenths percent must be deposited into the education legacy trust account created in RCW 83.100.230;
(iii) One and six-tenths percent must be deposited into the city-county assistance account created in RCW 43.08.290; and
(iv) The remainder must be deposited into the general fund.
2017 3rd sp.s. c 10 § 13; 2013 2nd sp.s. c 9 § 6. Prior: 2011 1st sp.s. c 50 § 975; 2011 1st sp.s. c 48 § 7035; 2005 c 450 § 1; 2000 c 103 § 15; 1987 c 472 § 14; 1983 2nd ex.s. c 3 § 20; 1982 1st ex.s. c 35 § 14; 1980 c 154 § 2; 1969 ex.s. c 223 § 28A.45.060; prior: 1951 1st ex.s. c 11 § 5. Formerly RCW 28A.45.060, 28.45.060.
Intent—Effective dates—2013 2nd sp.s. c 9: See notes following RCW 28A.150.220.
Effective dates—2011 1st sp.s. c 50: See note following RCW 15.76.115.
Effective date—2011 1st sp.s. c 48: See note following RCW 39.35B.050.
Effective date—2005 c 450: "This act takes effect August 1, 2005." [2005 c 450 § 4.]
Construction—Severability—Effective dates—1983 2nd ex.s. c 3: See notes following RCW 82.04.255.
Severability—Effective dates—1982 1st ex.s. c 35: See notes following RCW 82.08.020.
Purpose—Effective dates—Savings—Disposition of certain funds—Severability—1980 c 154: See notes following chapter digest.