SB 6316 — Concerning the state route number 520 corridor.

S-5357.1S-4583.3 SUBSTITUTE SENATE BILL 6316 State of Washington 68th Legislature 2024 Regular Session By SenateSenators TransportationPedersen (originallyand sponsoredKing byAN SenatorsACT PedersenRelating andto King)the READstate FIRSTroute TIMEnumber 02/23/24.520 corridor;

AN ACT Relating to the state route number 520 corridor;

and adding a new section to chapter 47.01 RCW;RCW.

creating a new section;

and providing an effective date.

(b) The tolling authority shall initially set the variable schedule of toll rates, which the tolling authority may adjust at p.

1 SSBSB 6316 (b) The tolling authority shall initially set the variable schedule of toll rates, which the tolling authority may adjust at least annually to reflect inflation as measured by the consumer price index or as necessary to meet the redemption of bonds and interest payments on the bonds, to generate revenue sufficient to provide for:

(iii) A work group convened by the mayor and city council of the city of Seattle to include sound transit, King county metro, the p.

2 SSBSB 6316 (iii) A work group convened by the mayor and city council of the city of Seattle to include sound transit, King county metro, the Seattle department of transportation, the department, the University of Washington, and other persons or organizations as designated by the mayor or city council to study and make recommendations of alternative connections for transit, including bus routes and high capacity transit, to the university link light rail line.

As part of its process, the department shall consult with the governing board of the Washington park arboretum, the Seattle city council and mayor, and the University of Washington to identify p.

3 SSBSB 6316 the governing board of the Washington park arboretum, the Seattle city council and mayor, and the University of Washington to identify all mitigation required by state and federal law resulting from the state route number 520 bridge replacement and HOV program's impact on the arboretum, and to develop a project mitigation plan to address these impacts.

4 SSBSB 6316 (5) The department may carry out the improvements designated in subsection (4) of this section and administer the tolling program on the state route number 520 corridor.

(1)(a) TheAny departmentperson involved in the construction of the state route number 520 corridor improvements - west end project may apply for deferral of state and local sales and use taxes on the site preparation for, the construction of, the acquisition of any related machinery and equipment that will become a part of, and the rental of equipment for use in, the state route number 520 corridor improvements - west end project.

(b) TheApplications applicationshall must be made to the department of revenue in a form and manner prescribed by the department of revenue.

No(3) newA person granted a tax deferral certificatesunder maythis besection issuedshall oncebegin paying the projectdeferred istaxes operationallyin completethe as24th describedyear inafter subsectionthe (3)date certified by the department of thisrevenue section.as the date on which the project is operationally complete.

(3) If the department is granted a tax deferral under this section, the department must begin paying the deferred taxes in the 24th year after the date certified by the department of revenue as the date on which the project is operationally complete.

(4) The department of revenue may authorize an accelerated repayment schedule upon request of thea departmentperson granted a deferral under this section.

(5) Interest shall not be charged on any taxes deferred under this section for the period of deferral, although all other penalties p.

5 SSBSB 6316 (5) Interest shall not be charged on any taxes deferred under this section for the period of deferral, although all other penalties and interest applicable to delinquent excise taxes may be assessed and imposed for delinquent payments under this section.

NEW(7) SECTION.For purposes of this section, "person" has the same meaning as in RCW 82.04.030 and also includes the department.

Sec.

3.

The provisions of RCW 82.32.805 and 82.32.808 do not apply to section 2 of this act.

NEW SECTION.

Sec.

4.

This act takes effect July 1, 2024.

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