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ENGROSSED SUBSTITUTE HOUSE BILL 1521 State of Washington 67th Legislature 2021 Regular Session By House Finance (originally sponsored by Representatives Entenman, Sullivan, Callan, Jacobsen, Taylor, Stokesbary, Gregerson, and Ormsby) READ FIRST TIME 02/22/21.
H-0824.1 HOUSE BILL 1521 State of Washington 67th Legislature 2021 Regular Session By Representatives Entenman, Sullivan, Callan, Jacobsen, Taylor, Stokesbary, Gregerson, and Ormsby Read first time 02/10/21.
Referred to Committee on Finance.
These communities are vital job centers to our state economy and are some of the most diverse communities in our state.
These communities are vital job centers to our state economy.
The legislature hereby creates the warehousing and manufacturing job center assistance program to provide these communities with revenue to mitigate for the negative fiscal impact of changes in sales tax sourcing laws, and fund important infrastructure to maintain these key job centers.
The legislature hereby creates the warehousing and manufacturing job center assistance program to provide these communities with revenue to mitigate the negative fiscal impact of changes in sales tax sourcing laws and fund important infrastructure to maintain these key job centers.
(1) In order to mitigate local sales tax revenue net losses as a result of the sourcing provisions of the streamlined sales and use p.
(1)(a) In order to mitigate local sales tax revenue net losses as a result of the sourcing provisions of the streamlined sales and use tax agreement under this title, the state treasurer, on October 1, p.
1 ESHB 1521 tax agreement under this title, the state treasurer, on July 1, 2021, and each July 1st thereafter through July 1, 2026, must transfer into the manufacturing and warehousing job centers account from the general fund the sum required to provide mitigation payments to qualifying jurisdictions as described under this section.
1 HB 1521 2021, and each July 1st thereafter through July 1, 2026, must transfer into the manufacturing and warehousing job centers account from the general fund the sum required to mitigate actual net losses as determined under this section.
(b) The payment required under (a) of this subsection for October 1, 2021, must be for double the amount determined pursuant to subsection (2) of this section.
Starting on July 1, 2022, the amount of the quarterly mitigation payment shall be reduced by 20 percent of the previous year's payment for that same quarter.
Starting July 1, 2022, the amount of the quarterly mitigation payment shall be reduced by 20 percent from the previous year's payment for that same quarter for each qualified local taxing district.
(3) "Qualified local taxing district" means a city that received a quarterly streamlined sales tax mitigation payment from the state on June 30, 2020, of at least $60,000.
(3) For the purposes of this section, "qualified local taxing district" means a city that received a quarterly streamlined sales tax mitigation payment from the state on June 30, 2020, of at least $60,000.
Expenditures from the account may be used only for the purpose of mitigating the negative fiscal impacts to local taxing jurisdictions as a result of the streamlined sales and use tax agreement under this title.
Expenditures from the account may be used only for the purpose of mitigating the negative fiscal impacts to local taxing jurisdictions as a result of RCW 82.14.490 and 82.14.020.
2 ESHB 1521
2 HB 1521
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