SB 5539: Tax increment financing
Making technical corrections to the local tax increment financing program.
Summary
- Defines the term real property as it relates to local tax increment financing areas.
- Clarifies that an increment area takes effect on June 1st following the adoption of the ordinance designating the increment area.
- Provides local taxing districts the authority to increase their property tax levy capacity for increases in assessed value in certain situations.
From the Senate Bill Report (SB 5539), written by the Legislature's nonpartisan staff. Read the full report ↗
- IntroducedJan 23, 2023
- Out of committeestopped here
- Passed Senate
- Passed House
- Governor
- Law
- Prime sponsor
- Annette Cleveland (D-49)
- Introduced
- January 23, 2023 in the Senate
- Last action
- January 8, 2024
- Requested by
- State agency
- Companion bill
- HB 1527
- Budget
- Has a fiscal note
AN ACT Relating to making technical corrections to the local tax increment financing program under chapter 39.114 RCW by applying the definition of real property to ensure private investments made on state and local government-owned land are included in the increment value, ensuring that the relocation and construction of a government-owned facility is included as an eligible project, ensuring that acquisition costs include appurtenant rights, providing clarification to definitions of increment value and tax allocation base value for consistency with current law, clarifying notice requirements for the creation of a tax increment area, and creating consistency with current law for add-on levies codified in RCW 84.55.010;
Sponsors
Prime sponsor: Annette Cleveland (D-49)
7 co-sponsors (4 Democrats, 3 Republicans)
Votes
No recorded floor votes. This measure never reached a floor vote.
History
- By resolution, reintroduced and retained in present status.
- On motion, referred to Ways & Means.
- BFGT - Majority; do pass.
- First reading, referred to Business, Financial Services, Gaming & Trade.
SB 5539 in other sessions
Bill numbers restart every two years, so the same number is a different bill in each session.
- SB 5539 (2025–26) Paid family & medical leave
- SB 5539 (2021–22) Ed. service district funding
- SB 5539 (2019–20) Family & med. leave/coverage
- SB 5539 (2017–18) Motor vehicle felonies pilot
- SB 5539 (2015–16) Pistol delivery to officer
- SB 5539 (2013–14) Direct practice providers
- SB 5539 (2011–12) Motion pictures
- SB 5539 (2009–10) County investment expenses