BILL REQ. #:  S-1607.1 

Read first time 02/18/2005.   Referred to Committee on Ways & Means.

     BE IT RESOLVED, BY THE SENATE AND HOUSE OF REPRESENTATIVES OF THE STATE OF WASHINGTON, IN LEGISLATIVE SESSION ASSEMBLED:
     THAT, At the next general election to be held in this state the secretary of state shall submit to the qualified voters of the state for their approval and ratification, or rejection, an amendment to Article VII of the Constitution of the state of Washington by adding a new section thereto to read as follows:

     Article VII, section .... Sections 1 and 2 of this article do not apply to the imposition of a tax upon intangible property or the income therefrom, as these terms are defined by the legislature.
     After the initial adoption of a law imposing a tax upon intangible property or the income from such property, the legislature shall not change the definition of intangible property or intangible personal property or the rate or rates of tax imposed unless the amendment is referred to the people for their ratification or rejection and is approved by a majority of the people voting thereon.

     BE IT FURTHER RESOLVED, That the secretary of state shall cause notice of this constitutional amendment to be published at least four times during the four weeks next preceding the election in every legal newspaper in the state.