On page 3, beginning on line 12, strike all of sections 3 and 4 and insert the following:

"NEW SECTION.  Sec. 3. (1) This section is the tax preference performance statement for the tax preferences contained in sections 1 and 2, chapter . . ., Laws of 2022 (sections 1 and 2 of this act). This performance statement is not intended to create a private right of action by any party or to be used to determine eligibility for preferential tax treatment.

(2) The legislature categorizes these tax preferences as ones intended to reduce structural inefficiencies in the tax structure, as indicated in RCW 82.32.808(2)(d).

(3) It is the legislature's specific public policy objective to provide tax relief to farmers, including those who changed their farm structure in response to federal regulations regarding irrigated water.

(4) To measure the effectiveness of the tax preferences in this act, the joint legislative audit and review committee must evaluate the tax preferences in this act by January 1, 2031. The review must include evaluation of:

(a) The number of entities claiming the tax preferences under this act;

(b) The amount of beneficiary tax savings of entities claiming the tax preferences under this act; and

(c) The percentage of entities claiming the tax preferences under this act that provide service to farm operations that modified their business structure in response to federal regulations regarding irrigated water.

On page 1, line 4 of the title, after "creating" strike "new sections; and providing an effective date" and insert "a new section; providing an effective date; and providing an expiration date"