PERMANENT RULES
Date of Adoption: April 5, 2000.
Purpose: Informs taxpayers and counties that federal law preempts real estate excise tax upon transfers made under confirmed Chapter 11 and Chapter 12 bankruptcy plans.
Citation of Existing Rules Affected by this Order: Amending WAC 458-61-230.
Statutory Authority for Adoption: RCW 82.32.300 and 84.45.150.
Other Authority: 11 U.S.C. sec. 1146(c) and 12 U.S.C. sec. 1231(c).
Adopted under notice filed as WSR 00-04-055 on January 28, 2000.
Number of Sections Adopted in Order to Comply with Federal Statute: New 0, Amended 0, Repealed 0; Federal Rules or Standards: New 0, Amended 0, Repealed 0; or Recently Enacted State Statutes: New 0, Amended 0, Repealed 0.
Number of Sections Adopted at Request of a Nongovernmental Entity: New 0, Amended 0, Repealed 0.
Number of Sections Adopted on the Agency's Own Initiative: New 0, Amended 1, Repealed 0.
Number of Sections Adopted in Order to Clarify, Streamline, or Reform Agency Procedures: New 0, Amended 1, Repealed 0.
Number of Sections Adopted Using Negotiated Rule Making: New 0, Amended 0, Repealed 0; Pilot Rule Making: New 0, Amended 0, Repealed 0; or Other Alternative Rule Making: New 0, Amended 1, Repealed 0. Effective Date of Rule: Thirty-one days after filing.
April 5, 2000
Claire Hesselholt
Rules Manager
Legislation and Policy Division
OTS-3701.1
AMENDATORY SECTION(Amending WSR 94-04-088, filed 2/1/94,
effective 3/4/94)
WAC 458-61-230
Bankruptcy.
(1) The real estate excise tax
((applies)) does not apply to conveyances of real property by a
trustee in bankruptcy ((when)) or debtor in possession made under
either a ((chapter 7 plan or chapter 13 plan, but not when made
under a)) chapter 11 plan or chapter 12 plan after the bankruptcy
plan is confirmed.
(2) The date when the bankruptcy plan was confirmed, the court case cause number, and the bankruptcy chapter number must be cited on the affidavit when claiming this exemption.
[Statutory Authority: RCW 82.32.300 and 1993 sp.s. c 25. 94-04-088, § 458-61-230, filed 2/1/94, effective 3/4/94. Statutory Authority: RCW 82.45.120 and 82.45.150. 90-01-003, § 458-61-230, filed 12/7/89, effective 1/7/90; 86-16-080 (Order PT 86-3), § 458-61-230, filed 8/6/86; 84-17-002 (Order PT 84-3), § 458-61-230, filed 8/2/84; 82-15-070 (Order PT 82-5), § 458-61-230, filed 7/21/82.]