H-1545              _______________________________________________

                                                    HOUSE BILL NO. 809

                        _______________________________________________

State of Washington                              49th Legislature                              1985 Regular Session

By Representatives Appelwick, Niemi, Rust and Sommers

Read first time 2/8/85 and referred to Committee on Ways & Means.

AN ACT Relating to the termination of tax exemptions; amending RCW 82.04.4281; providing an effective date; and declaring an emergency.

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

        Sec. 1.  Section 2, chapter 37, Laws of 1980 and RCW 82.04.4281 are each amended to read as follows:

          In computing tax there may be deducted from the measure of tax amounts derived by persons, other than ((those engaging in banking, loan, security, or other financial businesses)) corporations, from investments or the use of money as such((, and also amounts derived as dividends by a parent from its subsidiary corporations)).

NEW SECTION. Sec. 2.     This act is necessary for the immediate preservation of the public peace, health, and safety, the support of the state government and its existing public institutions, and shall take effect July 1, 1985.