SB 5050 - DIGEST

Provides that the legislative authority of any county or any city that has imposed both the excise taxes on the sale of real property authorized in RCW 82.46.010 and 82.46.035 may impose an additional excise tax on each sale of real property in the unincorporated areas of the county for the county tax and in the corporate limits of the city for the city tax at a rate not exceeding one-eighth of one percent of the selling price.

Provides that the legislative authority of any county or any city may only adopt an ordinance imposing the excise tax authorized by this act if the ordinance is first authorized by a proposition approved by a majority of the voters of the taxing district voting on the proposition at a general election held within the district or at a special election within the taxing district called by the district for the purpose of submitting such a proposition to the voters.

Requires that revenues generated from the tax imposed under this act must be used by the counties and cities solely for the maintenance and operation of park and recreation facilities acquired or developed with revenues from the taxes imposed under RCW 82.46.010 or 82.46.035 after December 31, 2002. Revenues from this tax may not be used by any county or city to supplant existing funding for maintenance and operation of park and recreation facilities.