Title 08 Taxation and Revenue
Chapter 08.07D Sales and Use Tax Deferral Program for Affordable Housing
Section 08.07D.110 Transfer of Ownership
- Transfer of investment project ownership does not terminate the deferral. The deferral is transferred subject to the successor meeting the eligibility requirements of this Section 08.07D and Chapter 82.92 RCW.
- The transferor of an eligible project must notify the City and the Department of such transfer, in writing and whereupon the City will certify to the Department whether the successor meets the requirements of the deferral. The transferor must provide the information necessary for the Department to transfer the deferral. If the transferor fails to notify the City and the Department, all deferred sales and use taxes are immediately due and payable as provided in Chapter 82.92 RCW.
Date Passed: Monday, February 27, 2023
Effective Date: Sunday, April 9, 2023
ORD C36357 Section 1
