Provides that, in computing tax there may be deducted from the measure of tax amounts received by a business that is located on a parcel of real property any portion of which is less than five hundred feet from the right of way of Martin Luther King Jr. Way between McClellan Street and Boeing Access Road. As used in this act, "parcel of real property" has the meaning given in RCW 84.04.130.

Provides that an amount equal to the total of deductions claimed under this act in the previous month shall be deducted from the amount to be distributed under RCW 81.104.170 to a regional transit authority and deposited to the state general fund.