2664 AMH GRAN LONG 157 [text]

HB 2664 ‑ H AMD 1221 ADOPTED 2-26-94

By Representatives Grant and Mastin and others

On page 3, after line 30, insert:

"Sec. 3. RCW 82.60.040 and 1986 c 116 s 13 are each amended to read as follows:

(1) The department shall issue a sales and use tax deferral certificate for state and local sales and use taxes due under chapters 82.08, 82.12, and 82.14 RCW on each eligible investment project that:

(a) Is located in an eligible area;

(b) Is located in any county if seventy-five percent of the new qualified employment positions are to be filled by residents of a contiguous county which qualifies as an eligible area; or

(c) Is located in a county containing a designated neighborhood reinvestment area approved under RCW 43.63A.700 if seventy-five percent of the new qualified employment positions are to be filled by residents of the neighborhood reinvestment area.

(2) A recipient of a tax deferral under subsection (1)(b) or (c) of this section shall maintain the required percentage of qualified employment positions filled by residents of the contiguous county or neighborhood reinvestment area for three calendar years after the date on which the department certifies the investment project as having been operationally completed.

(3) The department shall keep a running total of all deferrals granted under this chapter during each fiscal biennium."

Renumber sections consecutively and correct any internal references accordingly.