SB 5559 - DIGEST

Authorizes the city transportation authority to be dissolved by a vote of the people residing within the boundaries of the authority if the authority is faced with significant financial problems. However, the authority may covenant with holders of its bonds that it may not be dissolved and shall continue to exist solely for the purpose of continuing to levy and collect any taxes or assessments levied by it and pledged to the repayment of debt and to take other actions, including the appointment of a trustee, as necessary to allow it to repay any remaining debt.

Declares it is a violation of chapter 35.95A RCW for any resident of the authority area to register a motor vehicle owned by the resident outside the authority area where the registration is for the purpose of evading the collection of the special excise tax levied by the authority for the privilege of using a motor vehicle under RCW 35.95A.080(1).

Provides that, when a violation of this chapter occurs, the resident of the authority area is subject to a civil penalty equal to three times the amount of the evaded special excise tax.