Title 08 Taxation and Revenue
Chapter 08.17 Local Revitalization Financing Sales and Use Tax
Section 08.17.040 Implementation
- The tax will first be imposed on July 1, 2011.
- The cumulative amount of tax received by the City, in any fiscal year, may not exceed the amount approved by the department under RCW 82.14.510(10).
- The department must cease distributing the tax for the remainder of any fiscal year in which either:
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- the amount of tax received by the City equals the amount of distributions approved by the department for the fiscal year under RCW 82.14.510(10); or
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- the amount of revenue distributed to all sponsoring and cosponsoring local governments from taxes imposed under this section equals the annual state contribution limit.
- The tax will be distributed again, should it cease to be distributed for any of the reasons provided in RCW 82.14.510(5)(c), at the beginning of the next fiscal year, subject to the restrictions in this section.
- The state is entitled to any revenue generated by the tax in excess of the amounts specified in RCW 82.14.510(5)(c).
Date Passed: Monday, May 23, 2011
Effective Date: Saturday, June 25, 2011
ORD C34730 Section 1
