Authorizing certain cities to establish a limited tax expenditure from local property taxes for the value of new construction to encourage redevelopment of vacant lands in urban areas.
Summary
Allows a first-class city with a population of at least 150,000 but less than 250,000 to create a local property tax expenditure program, under which qualifying new construction is exempt from local property tax for 10 years.
From the Substitute House Bill Report (SSB 6361), 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 authorizing certain cities to establish a limited tax expenditure from local property taxes for the value of new construction to encourage redevelopment of vacant lands in urban areas;