Concerning the collection of certain taxes and fees as a result of a high capacity transit system approved by the voters of a regional transit authority in 2016.
Summary
Requires a regional transit authority (RTA) that includes portions of a county with a population of more than 1.5 million persons, if it imposes a motor vehicle excise tax (tax) of up to 0.8 percent first authorized in July 2015, to implement a market value adjustment program by September 1, 2018, under which a credit is allowed against tax due in an amount equal to the tax due under current law less the tax otherwise due based on the vehicle valuation schedule adopted in 2006, if the net result is positive.
Requires the RTA to implement the program in a manner that allows the delivery of the system and financing plan approved by the RTA's voters in 2016 to the extent practicable and, if the RTA is unable to meet the terms of the plan as originally adopted, the RTA is required to identify certain savings and cost reductions.
From the Engrossed Substitute House Bill Report (ESSB 5955), written by the Legislature's nonpartisan staff. Read the full report ↗
Did not passDid not pass · passed Senate, stalled in House
AN ACT Relating to the collection of certain taxes and fees as a result of a high capacity transit system approved by the voters of a regional transit authority in 2016;