RCW 39.104.010 Finding. The legislature recognizes that the state as a whole benefits from investment in public infrastructure because it promotes community and economic development. Public investment stimulates business activity and helps create jobs, stimulates the redevelopment of brownfields and blighted areas in the inner city, lowers the cost of housing, and promotes efficient land […]
RCW 39.104.020 Definitions. The definitions in this section apply throughout this chapter unless the context clearly requires otherwise. (1) “Annual state contribution limit” means two million five hundred thousand dollars statewide per fiscal year, plus the additional amounts approved for demonstration projects in RCW 82.14.505. (2) “Approving agency” means the department of revenue for project […]
RCW 39.104.030 Conditions. A local government may finance public improvements using local revitalization financing subject to the following conditions: (1) The local government has adopted an ordinance designating a revitalization area within its boundaries and specified the public improvements proposed to be financed in whole or in part with the use of local revitalization financing; […]
RCW 39.104.040 Creation of revitalization area. (1) Before adopting an ordinance creating the revitalization area, a sponsoring local government must: (a) Provide notice to all taxing districts that levy or have levied for it regular property taxes and local governments with geographic boundaries within the proposed revitalization area of the sponsoring local government’s intent to […]
RCW 39.104.050 Limitations on revitalization areas. The designation of a revitalization area is subject to the following limitations: (1)(a) Except as provided in (b) of this subsection, no revitalization area may have within its geographic boundaries any part of a hospital benefit zone under chapter 39.100 RCW, any part of a revenue development area created […]
RCW 39.104.060 Use of property tax allocation revenues for revitalization financing—Opting out—Partial participation. (1) Participating taxing districts must allow the use of all of their local property tax allocation revenues for local revitalization financing. (2)(a) If a taxing district does not want to allow the use of its property tax revenues for the local revitalization […]
RCW 39.104.070 Participating in revitalization financing—Interlocal agreement—Imposition of sales and use tax—Ordinance to opt out—Notice. (1) A participating local government must enter into an interlocal agreement as provided in chapter 39.34 RCW to participate in local revitalization financing with the sponsoring local government. (2)(a) If a local government that imposes a sales and use tax […]
RCW 39.104.080 Local property tax allocation revenues—Distribution—Determination—Termination—Exception. (1) Commencing in the second calendar year following the creation of a revitalization area by a sponsoring local government, the county treasurer must distribute receipts from regular taxes imposed on real property located in the revitalization area as follows: (a) Each participating taxing district and the sponsoring local […]
RCW 39.104.090 Local sales and use tax increments. (1) A sponsoring local government may use annually local sales and use tax amounts equal to some or all of its local sales and use tax increments to finance public improvements in the revitalization area. The amounts of local sales and use tax dedicated by a participating […]
RCW 39.104.100 Application process—Approval of project awards by the approving agency. (1) Prior to applying to receive a state contribution, a sponsoring local government must adopt a revitalization area within the limitations in RCW 39.104.050 and in accordance with RCW 39.104.040. (2)(a) As a condition to imposing a sales and use tax under RCW 82.14.510, […]
RCW 39.104.110 Issuance of general obligation bonds. (1) A sponsoring local government creating a revitalization area and authorizing the use of local revitalization financing may incur general indebtedness, including issuing general obligation bonds, to finance the public improvements and retire the indebtedness in whole or in part from local revitalization financing it receives, subject to […]
RCW 39.104.120 Use of tax revenue for bond repayment. A sponsoring local government that issues bonds under RCW 39.104.110 to finance public improvements may pledge for the payment of such bonds all or part of any local property tax allocation revenues derived from the public improvements. The sponsoring local government may also pledge all or […]
RCW 39.104.130 Limitation on bonds issued. The bonds issued by a local government under RCW 39.104.110 to finance public improvements do not constitute an obligation of the state of Washington, either general or special. [ 2009 c 270 § 703.]
RCW 39.104.140 Construction—Port districts—Authority. Nothing in this act may be construed to give port districts the authority to impose a sales or use tax under chapter 82.14 RCW. [ 2009 c 270 § 803.]
RCW 39.104.150 Administration by the department of revenue and the department of commerce—Adoption of rules. The department of revenue and the department of commerce may adopt any rules under chapter 34.05 RCW that the departments consider necessary for the administration of this chapter. [ 2016 c 207 § 3; 2009 c 270 § 804.]
