Pandemic Darlings The pandemic economy, in original documents
Home Source documents Senate Bill Report — SB 5336, Main Street Trust Fund Tax Credit Population Criteria (Washington, 2023)

Senate Bill Report — SB 5336, Main Street Trust Fund Tax Credit Population Criteria (Washington, 2023)

Summary

Senate Bill Report on SB 5336, as of January 16, 2023, for the Senate Committee on Business, Financial Services, Gaming & Trade, with committee activity listed for 1/17/23. The bill, titled an act relating to population criteria for the main street trust fund tax credit, lists Senators Cleveland, Wilson, L., Frame and Mullet as sponsors. The brief summary states that the bill clarifies that local governments with a population greater than 190,000 can continue to be eligible for the Washington State Main Street Program tax incentives if they were previously designated when the population was less than 190,000. The report lists the appropriation as None and a fiscal note requested on January 13, 2023.

Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used

Issuer
Congressional materials
Document type
Report
Date
2023-01-17
Case
2023 01 17 A30403 D247784 Bill Report 5336 Sba Bfgt 23

Cite this document

“Senate Bill Report — SB 5336, Main Street Trust Fund Tax Credit Population Criteria (Washington, 2023).” Original at app.leg.wa.gov, dated 2023-01-17. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2023-01-17-2023-01-17-a30403-d247784-bill-report-5336-sba-bfgt-23/, SHA-256 1c0d3b01dcddd199514e04d5351890d1c3fee5122f6da65aea7c6a68c5cc9623.

Full text

                             SENATE BILL REPORT
                                   SB 5336

                                       As of January 16, 2023

Title: An act relating to population criteria for the main street trust fund tax credit.

Brief Description: Concerning population criteria for the main street trust fund tax credit.

Sponsors: Senators Cleveland, Wilson, L., Frame and Mullet.

Brief History:
     Committee Activity: Business, Financial Services, Gaming & Trade: 1/17/23.


                                      Brief Summary of Bill
           • Clarifies that local governments with a population greater than 190,000
             can continue to be eligible for the Washington State Main Street
             Program tax incentives if they were previously designated to be eligible
             for the program when the population of the local government was less
             than 190,000.


SENATE COMMITTEE ON BUSINESS, FINANCIAL SERVICES, GAMING & TRADE

     Staff: Clinton McCarthy (786-7319)

     Background: The Washington State Main Street Program (Program) provides technical
     assistance for local comprehensive downtown or neighborhood commercial district
     revitalization initiatives. The Department of Archeology and Historic Preservation (DAHP)
     operates the Program through a contract with the Washington Trust for Historic
     Preservation. DAHP provides initial site evaluations by technical specialists, training for
     local programs and staff, and design and implementation assistance to local governments,
     businesses, organizations, and property owners undertaking revitalization initiatives.

     In 2021, the Legislature expanded the total business and occupation (B&O) tax or public
     utility tax (PUT) credit allowed under the Main Street Tax Incentive Program to 75 percent,



     This analysis was prepared by non-partisan legislative staff for the use of legislative
     members in their deliberations. This analysis is not part of the legislation nor does it
     constitute a statement of legislative intent.

Senate Bill Report                               -1-                                            SB 5336
     for contributions made to the state Main Street Trust Fund beginning in calendar year 2021.
     The program continued to be limited to local governments with a population of less than
     190,000.

     As of 2021, the U.S. Census dData reports that the city of Vancouver, Washington, has a
     population of 192,169. In 2022, the Legislature clarified that the Program criteria for a
     population less than 190,000 within a local government's boundary is to be determined at
     the time of designation by amending the Program chapter associated with RCW 43.360.030
     of law. Similar language found in the Washington Main Street Program Tax Incentives
     chapter RCW 82.73.030 was not adjusted to account for the time of designation.

     Summary of Bill: The Washington Main Street Program Tax Incentives chapter clarifies
     the Program criteria for having a population less than 190,000 within a local government's
     boundary is to be determined at the time of designation.

     Appropriation: None.

     Fiscal Note: Requested on January 13, 2023.

     Creates Committee/Commission/Task Force that includes Legislative members: No.

     Effective Date: Ninety days after adjournment of session in which bill is passed.




Senate Bill Report                            -2-                                        SB 5336

File and source

File
2023-01-17_a30403_d247784_bill-report-5336-sba-bfgt-23.pdf
Size
8,412 bytes
SHA-256
1c0d3b01dcddd199514e04d5351890d1c3fee5122f6da65aea7c6a68c5cc9623
Our copy
2023-01-17_a30403_d247784_bill-report-5336-sba-bfgt-23.pdf
Original
app.leg.wa.gov
Back to top