WA People
BILL · 2023–24 SESSION

SB 6230: Tax increment areas

Creating an option for impacted taxing districts to provide a portion of their new revenue to support any tax increment area proposed within their jurisdiction.

Summary

  • Allows for the expiration of a tax increment financing (TIF) increment area prior to the sunset date if tax allocation revenues are no longer necessary or obligated to pay any bonded indebtedness issued solely to fund the public improvement costs.
  • Requires a governing body of any taxing district within the increment area to approve the taxing district's partial or full participation in the tax increment project.
  • Excludes the taxing district's property taxes from TIF apportionment if the governing body does not approve its participation.

From the Senate Bill Report (SB 6230), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · died in committee
  1. IntroducedJan 15, 2024
  2. Out of committeestopped here
  3. Passed Senate
  4. Passed House
  5. Governor
  6. Law
Prime sponsor
Senator (R-18)
Introduced
January 15, 2024 in the Senate
Last action
January 15, 2024
Companion bill
HB 2354
Budget
Has a fiscal note

AN ACT Relating to creating an option for impacted taxing districts to provide a portion of their new revenue to support any tax increment area proposed within their jurisdiction and clarifying that a tax increment area must be dissolved when all bond obligations are paid;

Sponsors

Prime sponsor: Senator (R-18)

4 co-sponsors (3 Democrats, 1 Republican)

Kevin Van De Wege D-24Claudia Kauffman D-47Ron Muzzall R-10John Lovick D-44

Votes

No recorded floor votes. This measure never reached a floor vote.

History

  1. First reading, referred to Local Government, Land Use & Tribal Affairs.

SB 6230 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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