BILL REQ. #:  H-4366.1 

Read first time 01/15/08.   Referred to Committee on Finance.

     AN ACT Relating to a property tax exemption for the administrative offices of certain nonprofit organizations; and adding a new section to chapter 84.36 RCW.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION.  Sec. 1   A new section is added to chapter 84.36 RCW to read as follows:
     (1) The real and personal property used by a community or neighborhood nonprofit organization is exempt from taxation to the extent the property is used as an administrative office for the administration of the charitable low and moderate-income housing programs of the organization. The department of revenue shall provide rules regarding administrative offices exempt under this section, consistent with the purposes of this section. The benefit of the exemption must inure to the user.
     (2) For the purposes of this section, "community or neighborhood nonprofit organization" means:
     (a) An organization exempt under 26 U.S.C. Sec. 501(c)(3) of the internal revenue code of 1986; and
     (b) A community-based development organization or a community housing development organization, as defined by the United States department of housing and urban development.