WSR 06-11-181

PREPROPOSAL STATEMENT OF INQUIRY

DEPARTMENT OF REVENUE


[ Filed May 24, 2006, 11:29 a.m. ]

Subject of Possible Rule Making: New rule or rules dealing with exemption of intangible personal property from property taxation.

Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 84.08.010, 84.08.070, and 84.36.865.

Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: The statute exempting intangible personal property, RCW 84.36.070, was substantially amended in 1997 and no rules have been adopted since then to clarify what the exemption entails, particularly with respect to the valuation of centrally assessed utilities. A rule or rules could assist taxpayers, the department, and assessors by providing guidelines for assessing complex properties that include intangible personal property.

Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: None.

Process for Developing New Rule: Parties interested in this rule making may contact the individual listed below. The public may also participate by providing written comments throughout this rule making or giving oral testimony at the public meeting or public hearing.

Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication. Written comments may be submitted by mail, fax, or at the public meeting. Oral comments will be accepted at the public meeting. The department anticipates making available a preliminary draft of possible rule(s) for viewing and printing on our web site at http://dor.wa.gov/content/laws/RuleMaking/default.aspx by June 12th. Written comments on and/or requests for copies of the draft rule(s) may be directed to James A. Winterstein, Property Tax Division, P.O. Box 47471, Olympia, WA 98504-7471, e-mail JimWi@dor.wa.gov, phone (360) 570-5880, fax (360) 586-7602.

Public Meeting Location: Capital Plaza Building, 4th Floor L&P Conference Room, 1025 Union Avenue S.E., Olympia, WA, on June 29, 2006, at 9:30 a.m.

Assistance for Persons With Disabilities: Contact Sandy Davis no later than ten days before the meeting date, TTY 1-800-451-7985 or (360) 725-7499.

May 24, 2006

Alan R. Lynn

Rules Coordinator

Washington State Code Reviser's Office