SENATE BILL REPORT
SB 5134
This analysis was prepared by non-partisan legislative staff for the use of legislative members in their deliberations. This analysis is not a part of the legislation nor does it constitute a statement of legislative intent. |
As of January 25, 2011
Title: An act relating to historic vessels.
Brief Description: Concerning historic vessels.
Sponsors: Senator Hatfield.
Brief History:
Committee Activity: Transportation: 1/25/11.
SENATE COMMITTEE ON TRANSPORTATION |
Staff: Katherine Taylor (786-7434)
Background: Currently, the Department of Licensing (DOL) requires registration of vessels or watercraft. Once registered, DOL assigns a vessel a registration number and a decal. Additionally, an excise tax is imposed for the privilege of using a vessel. The annual amount of the excise tax is one-half of 1 percent of the fair market value of the vessel or $5 or whichever is greater.
Summary of Bill: An intent section regarding the hobby of collecting, preserving, restoring, and maintaining vessels of historic and special interest, as well as definitions for vessel collectors and historic vessels are added to the Washington State law on vessel registration. Historic vessels use is limited to club activities, exhibitions, tours, parades, and occasional pleasure boating.
Further, DOL must create and issue a separate decal for each historic vessel.
The excise tax imposed on historic vessels is one-quarter of 1 percent of the fair market value of the historic vessel or $5 or whichever is greater, as opposed to one-half of 1 percent of the fair market value of a non-historic vessel or $5 or whichever is greater.
Appropriation: None.
Fiscal Note: Available.
Committee/Commission/Task Force Created: No.
Effective Date: Ninety days after adjournment of session in which bill is passed.
Staff Summary of Public Testimony: PRO: Would help promote restoration and preservation of historic vessels, the excise tax treatment for historic vessels would be similar to how classic cars are currently treated. Historic vessels brighten up the water.
Persons Testifying: PRO: Senator Hatfield, prime sponsor; Jim King, Citizens for Park and Recreation; Doug Levy, Recreational Boating Assn. of Washington.