HOUSE BILL REPORT

HB 429

BYRepresentatives Appelwick and P. King 

Excluding public funds received by nonprofit corporations for conventions, tourism, and economic development from business and occupation taxation.

House Committe on Ways & Means/Revenue

Majority Report:     Do pass with amendment. (8)

     Signed by Representatives Appelwick, Chair; Basich, Bristow, Dellwo, Holland, Taylor, Valle and Winsley.

House Staff:Rick Wickman (786-7136)

AS REPORTED BY COMMITTEE ON WAYS & MEANS/REVENUE JANUARY 21, 1988

BACKGROUND:

Non-profit organizations that promote conventions, tourism or economic development receive monies from public agencies and from private sources.  These kinds of organizations can have several kinds of income: governmental, dues, contributions, etc.

Monies from public agencies are currently taxable under the business and occupation tax service rate of 1.5%. Monies received from dues are not taxable.

SUMMARY:

BILL AS AMENDED:  Public monies received by non-profit organizations for promoting conventions, tourism or economic development are deductible from the business and occupation tax.

AMENDED BILL COMPARED TO ORIGINAL:  Eliminated retroactive application of business and occupation tax exemption.

Revenue:   The bill has a revenue impact.

Fiscal Note:    Available.

House Committee ‑ Testified For:     None Presented.

House Committee - Testified Against: None Presented.

House Committee - Testimony For:     None Presented.

House Committee - Testimony Against: None Presented.