Purpose: To repeal WAC 458-12-245 Listing of property--Intangibles, because the underlying statute, RCW 84.36.070 Intangible personal property--Appraisal, was extensively changed by the legislature in 1997. The existing rule was adopted in 1968 and repeats the language of RCW 84.36.070 as it existed at that time. The rule no longer reflects the state of the law and as such it is no longer accurate and needs to be repealed.

Citation of Existing Rules Affected by this Order: Repealing WAC 458-12-245 Listing of property--Intangibles.

Statutory Authority for Adoption: RCW 84.36.865.

Other Authority: RCW 84.08.010, 84.08.070.

Adopted under preproposal statement of inquiry filed as WSR 98-08-018 on March 19, 1998.

Number of Sections Adopted in Order to Comply with Federal Statute: New 0, amended 0, repealed 0; Federal Rules or Standards: New 0, amended 0, repealed 0; or Recently Enacted State Statutes: New 0, amended 0, repealed 0.

Number of Sections Adopted at Request of a Nongovernmental Entity: New 0, amended 0, repealed 0.

Number of Sections Adopted on the Agency's Own Initiative: New 0, amended 0, repealed 1.

Number of Sections Adopted in Order to Clarify, Streamline, or Reform Agency Procedures: New 0, amended 0, repealed 0.

Number of Sections Adopted Using Negotiated Rule Making: New 0, amended 0, repealed 0; Pilot Rule Making: New 0, amended 0, repealed 0; or Other Alternative Rule Making: New 0, amended 0, repealed 0.

Effective Date of Rule: Thirty-one days after filing.

June 22, 1998

Russell W. Brubaker

Assistant Director

Legislation and Policy Division