SENATE BILL REPORT
SHB 208
BYHouse Committee on Ways & Means/Revenue (originally sponsored by Representatives Appelwick, Taylor, Sprenkle, Holland and Sayan; by request of Department of Revenue)
Modifying conveyance tax collection procedures.
House Committe on Ways & Means/Revenue
Senate Committee on Ways & Means
Senate Hearing Date(s):March 23, 1987
Senate Staff:William Bafus (786-7437)
AS OF MARCH 18, 1987
BACKGROUND:
At present, the Department of Revenue is responsible for collection of the conveyance tax, and for printing, distributing and accounting for conveyance tax stamps and receipts. The Department estimates that this activity costs approximately $46,000 per fiscal year, including the salaries and benefits of 1.5 FTE employees plus the costs associated with obtaining and distributing and conveyance tax stamps.
SUMMARY:
Responsibility for collection of the conveyance tax is transferred to the county treasurers. The option of incorporating collection of the conveyance tax and the real estate excise tax into the same form and process is provided. Sections of RCW 82.20 relating to conveyance tax stamps are repealed. A process for redemption of outstanding conveyance tax stamps is provided, with a deadline of July 1, 1988.
Revenue: The bill has a revenue impact.
Fiscal Note: available
Effective Date:The bill contains an emergency clause and takes effect July 1, 1987.