(1) Beginning in January 1984, and in January of every fourth year thereafter, the department of revenue must submit to the legislature prior to the regular session a listing of the amount of reduction for the current and next biennium in the revenues of the state or the revenues of local government collected by the state as a result of tax exemptions. The listing must include an estimate of the revenue lost from the tax exemption, the purpose of the tax exemption, the persons, organizations, or parts of the population which benefit from the tax exemption, and whether or not the tax exemption conflicts with another state program. The listing must include but not be limited to the following revenue sources:
(a) Real and personal property tax exemptions under Title
84 RCW;
(b) Business and occupation tax exemptions, deductions, and credits under chapter
82.04 RCW;
(c) Retail sales and use tax exemptions under chapters
82.08, 82.12, and
82.14 RCW;
(d) Public utility tax exemptions and deductions under chapter
82.16 RCW;
(e) Food fish and shellfish tax exemptions under chapter
82.27 RCW;
(f) Leasehold excise tax exemptions under chapter
82.29A RCW;
(g) Motor vehicle and special fuel tax exemptions and refunds under chapter
82.38 RCW;
(h) Aircraft fuel tax exemptions under chapter
82.42 RCW;
(i) Motor vehicle excise tax exclusions under chapter
82.44 RCW; and
(j) Insurance premiums tax exemptions under chapter
48.14 RCW.
(2) The department of revenue must prepare the listing required by this section with the assistance of any other agencies or departments as may be required.
(3) The department of revenue must present the listing to the ways and means committees of each house in public hearings.
(4) Beginning in January 1984, and every four years thereafter the governor is requested to review the report from the department of revenue and may submit recommendations to the legislature with respect to the repeal or modification of any tax exemption. The ways and means committees of each house and the appropriate standing committee of each house must hold public hearings and take appropriate action on the recommendations submitted by the governor.
(5) As used in this section, "tax exemption" means an exemption, exclusion, or deduction from the base of a tax; a credit against a tax; a deferral of a tax; or a preferential tax rate.
(6) For purposes of the listing due in January 2012, the department of revenue does not have to prepare or update the listing with respect to any tax exemption that would not be likely to increase state revenue if the exemption was repealed or otherwise eliminated.