H-1233              _______________________________________________

                                                    HOUSE BILL NO. 480

                        _______________________________________________

State of Washington                              49th Legislature                              1985 Regular Session

By Representatives Appelwick, Niemi, Locke, Sommers, Brekke, Rust, Hine and Wineberry

Read first time 2/4/85 and referred to Committee on Ways & Means.

AN ACT Relating to the taxation of improvements; and amending RCW 82.29A.160.

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

        Sec. 1.  Section 18, chapter 61, Laws of 1975-'76 2nd ex. sess. and RCW 82.29A.160 are each amended to read as follows:

          Notwithstanding any other provision of this chapter, RCW 84.36.451 and 84.40.175, improvements owned or being acquired by contract purchase or otherwise by any lessee or sublessee which are not defined as contract rent shall be taxable to such lessee or sublessee under Title 84 RCW at their full true and fair value without any deduction for interests held by the lessor or others.