5498 AMS ZARE MOOR 040
SB 5498 - S AMD 252
By Senator Zarelli
PULLED 4/2/2007
On page 2, after line 12, insert the following:
"Sec. 2. RCW 84.55.005 and 2002 c 1 s 2 are each reenacted to read as follows:
As used in this chapter:
(1) "Inflation" means the percentage change in the implicit price deflator for personal consumption expenditures for the United States as published for the most recent twelve-month period by the bureau of economic analysis of the federal department of commerce in September of the year before the taxes are payable;
(2) "Limit factor" means:
(a) For taxing districts with a population of less than ten thousand in the calendar year prior to the assessment year, one hundred one percent;
(b) For taxing districts for which a limit factor is authorized under RCW 84.55.0101, the lesser of the limit factor under that section or one hundred one percent;
(c) For all other districts, the lesser of one hundred one percent or one hundred percent plus inflation; and
(3) "Regular property taxes" has the meaning given it in RCW 84.04.140.
Sec. 3. RCW 84.55.0101 and 2002 c 1 s 3 are each reenacted to read as follows:
Upon a finding of substantial need, the legislative authority of a taxing district other than the state may provide for the use of a limit factor under this chapter of one hundred one percent or less unless an increase greater than this limit is approved by the voters at an election as provided in RCW 84.55.050. In districts with legislative authorities of four members or less, two-thirds of the members must approve an ordinance or resolution under this section. In districts with more than four members, a majority plus one vote must approve an ordinance or resolution under this section. The new limit factor shall be effective for taxes collected in the following year only.
"
Renumber the sections consecutively and correct any internal references accordingly.
SB 5498 - S AMD 252
By Senator Zarelli
On page 1, line 2 of the title, after "districts;", insert "reenacting RCW 84.55.005 and 84.55.0101;"
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EFFECT: Clarifies the applicable levy lid which triggers a vote of the people by reenacting the 101% levy limit.