S-453                 _______________________________________________

                                                   SENATE BILL NO. 5261

                        _______________________________________________

State of Washington                              50th Legislature                              1987 Regular Session

By Senators Barr, Bauer, McDonald and McCaslin

Read first time 1/21/87 and referred to Committee on Ways & Means.

AN ACT Relating to associate development organizations; and adding a new section to chapter 82.04 RCW.

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

NEW SECTION. Sec. 1.  A new section is added to chapter 82.04 RCW to read as follows:

          In computing tax under this chapter, there may be deducted from the measure of tax amounts received from the state of Washington, and any funds received from any public or quasi-public body, by those entities defined by rule as associate development organizations by the department of trade and economic development.  For the purposes of this section, "public or quasi-public body" includes but is not limited to the state, the political subdivisions, municipal or quasi-municipal corporations, and special purpose districts of the state, and the federal government.