SSB 5952 -
By Senators Holmquist Newbry, Braun, Baumgartner, Benton, Roach, Brown, Padden
NOT ADOPTED 11/09/2013
On page 27, after line 33 of the amendment, insert the following:
"NEW SECTION. Sec. 15 A new section is added to chapter 82.04
RCW to read as follows:
(1) Beginning January 1, 2020, all tax rates under this chapter
must be reduced by forty percent. The appropriate fiscal committees of
the legislature must develop and introduce legislation by no later than
the 2015 legislative session that specifies a graduated implementation
schedule that phases in the forty percent reduction for all persons
subject to tax under this chapter between July 1, 2015, and January 1,
2020.
(2) This section expires July 1, 2040."
Renumber the remaining sections consecutively and correct any internal references accordingly.
SSB 5952 -
By Senators Holmquist Newbry, Braun, Baumgartner, Benton, Roach, Brown, Padden
NOT ADOPTED 11/09/2013
On page 28, at the beginning of line 3 of the title amendment,
strike all material through "dates" on line 9 and insert the following:
"On page 1, line 1 of the title, after "Relating to" strike the
remainder of the title and insert "incentivizing a long-term commitment
to maintain and grow jobs in Washington state by providing and
extending a business and occupation preferential tax rate for all
Washington state businesses subject to business and occupation tax and
expanding the sales and use tax exemption for the construction of new
facilities used to manufacture superefficient airplanes to include the
construction of new facilities used to manufacture commercial airplanes
or the wings or fuselage of commercial airplanes; amending RCW
82.08.980, 82.12.980, 82.04.260, 82.04.260, 82.04.250, 82.04.290,
82.04.4461, 82.04.4463, 82.08.975, 82.12.975, 82.29A.137, and
84.36.655; adding a new section to chapter 82.32 RCW; adding a new
section to chapter 82.04 RCW; creating a new section; providing a
contingent effective date; providing an effective date; and providing
expiration dates."
EFFECT: Provides a 40% reduction for all persons subject to Washington state business and occupation tax by no later than January 1, 2020, through July 1, 2040. Requires the legislature to develop and introduce legislation to phase-in the preferential rate.