1283-S AMH THOL PITT 43

SHB 1283 - H AMDS TO H AMD(1283-S AMH THOL PITT 41)171 ADPT 3-15-97

By Representative L. Thomas

     On page 1, beginning on line 33 of the amendment, strike all of section 2.

     On page 2, beginning on line 35 of the amendment, strike all of section 3.

     On page 3, beginning on line 20 of the amendment, strike all of section 4.

Renumber the remaining sections consecutively, correct internal references, and correct the title of the bill.

     On page 7, after line 15 of the amendment, insert the following:

A(3) In addition to the plan required under this chapter, the Washington main street advisory committee must conduct a study on possible financial incentives to encourage the development and retention of businesses located within downtown and neighborhood commercial business districts.  The study must contain information on:

     (a) Existing state and local financial incentives available to businesses located in downtown and neighborhood commercial business districts;

     (b) Financial and tax incentives available in other states to encourage the development or retention of businesses located in downtown and neighborhood commercial business districts;

     (c) Other information the advisory committee deems appropriate to the required study.

     (4) By November 15, 1997, the Washington main street advisory committee shall submit their report with findings and recommendations to the appropriate legislative committees of the house of representatives and the senate.@

EFFECT:  Removes the following incentives (1) B&O tax credit for contributions, (2) 10-year property tax exemption for improvements to commercial buildings, and (3) State-shared retail sales tax on sales in the designated area.  Requires the advisory committee to conduct a study on possible incentives to encourage the development and retention of businesses located in the designated area.