Fiscal Note Summary — 5052 SB, Leasehold Tax/Arenas, etc. (Multiple Agency)
Summary
Multiple Agency Fiscal Note Summary for bill number 5052 SB, titled Leasehold tax/arenas, etc., followed by individual state agency and local government fiscal notes. The summary lists the Department of Revenue with estimated cash receipts shown as (600,000) for 2023-25, and a local government line shown as (2,200,000) for 2023-25. It lists estimated operating expenditures totaling 142,900 for 2023-25 for the Joint Legislative Audit and Review Committee and the Department of Revenue. A local government fiscal note discusses the loss to the City of Seattle and King County.
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Multiple Agency Fiscal Note Summary
Bill Number: 5052 SB Title: Leasehold tax/arenas, etc.
Estimated Cash Receipts
Agency Name 2023-25 2025-27 2027-29
GF-State NGF-Outlook Total GF-State NGF-Outlook Total GF-State NGF-Outlook Total
Department of (600,000) (600,000) (600,000) (3,000,000) (3,000,000) (3,000,000) (3,100,000) (3,100,000) (3,100,000)
Revenue
Total $ (600,000) (600,000) (600,000) (3,000,000) (3,000,000) (3,000,000) (3,100,000) (3,100,000) (3,100,000)
Agency Name 2023-25 2025-27 2027-29
GF- State Total GF- State Total GF- State Total
Local Gov. Courts
Loc School dist-SPI
Local Gov. Other (2,200,000) (2,600,000) (2,800,000)
Local Gov. Total (2,200,000) (2,600,000) (2,800,000)
Estimated Operating Expenditures
Agency Name 2023-25 2025-27 2027-29
FTEs GF-State NGF-Outlook Total FTEs GF-State NGF-Outlook Total FTEs GF-State NGF-Outlook Total
Joint Legislative .1 26,700 26,700 26,700 .0 13,400 13,400 13,400 .0 13,400 13,400 13,400
Audit and Review
Committee
Department of .5 116,200 116,200 116,200 .2 44,000 44,000 44,000 .2 44,000 44,000 44,000
Revenue
Total $ 0.6 142,900 142,900 142,900 0.2 57,400 57,400 57,400 0.2 57,400 57,400 57,400
Agency Name 2023-25 2025-27 2027-29
FTEs GF-State Total FTEs GF-State Total FTEs GF-State Total
Local Gov. Courts
Loc School dist-SPI
Local Gov. Other Non-zero but indeterminate cost and/or savings. Please see discussion.
Local Gov. Total
Estimated Capital Budget Expenditures
Agency Name 2023-25 2025-27 2027-29
FTEs Bonds Total FTEs Bonds Total FTEs Bonds Total
Joint Legislative Audit .0 0 0 .0 0 0 .0 0 0
and Review Committee
Department of Revenue .0 0 0 .0 0 0 .0 0 0
Total $ 0.0 0 0 0.0 0 0 0.0 0 0
FNPID 65593
:
FNS029 Multi Agency rollup
Agency Name 2023-25 2025-27 2027-29
FTEs GF-State Total FTEs GF-State Total FTEs GF-State Total
Local Gov. Courts
Loc School dist-SPI
Local Gov. Other Non-zero but indeterminate cost and/or savings. Please see discussion.
Local Gov. Total
Estimated Capital Budget Breakout
Prepared by: Cheri Keller, OFM Phone: Date Published:
(360) 584-2207 Final
FNPID 65593
:
FNS029 Multi Agency rollup
Individual State Agency Fiscal Note
Bill Number: 5052 SB Title: Leasehold tax/arenas, etc. Agency: 014-Joint Legislative Audit
and Review Committee
Part I: Estimates
No Fiscal Impact
Estimated Cash Receipts to:
NONE
Estimated Operating Expenditures from:
FY 2024 FY 2025 2023-25 2025-27 2027-29
FTE Staff Years 0.1 0.0 0.1 0.0 0.0
Account
General Fund-State 001-1 20,000 6,700 26,700 13,400 13,400
Total $ 20,000 6,700 26,700 13,400 13,400
Estimated Capital Budget Impact:
NONE
The cash receipts and expenditure estimates on this page represent the most likely fiscal impact. Factors impacting the precision of these estimates,
and alternate ranges (if appropriate), are explained in Part II.
Check applicable boxes and follow corresponding instructions:
If fiscal impact is greater than $50,000 per fiscal year in the current biennium or in subsequent biennia, complete entire fiscal note
form Parts I-V.
X If fiscal impact is less than $50,000 per fiscal year in the current biennium or in subsequent biennia, complete this page only (Part I).
Capital budget impact, complete Part IV.
Requires new rule making, complete Part V.
Legislative Contact: Clinton McCarthy Phone: 360-786-7319 Date: 01/07/2023
Agency Preparation: Pete van Moorsel Phone: 360-786-5185 Date: 01/12/2023
Agency Approval: Eric Thomas Phone: 360 786-5182 Date: 01/12/2023
OFM Review: Gaius Horton Phone: (360) 819-3112 Date: 01/16/2023
Form FN (Rev 1/00) 178,037.00 Request # 6-1
FNS063 Individual State Agency Fiscal Note 1 Bill # 5052 SB
Part II: Narrative Explanation
II. A - Brief Description Of What The Measure Does That Has Fiscal Impact
Significant provisions of the bill and any related workload or policy assumptions that have revenue or expenditure impact on the responding agency by
section number.
The bill creates a new leasehold excise tax (LET) exemption for leasehold interests in public or entertainment areas of an
arena that meet the following criteria:
• Capacity of more than 4,000.
• Located on city-owned land within a city of more than 100,000.
• Paid for by private entities with no public reimbursement.
There is an annual tax performance report requirement. The preference does not apply to leasehold interests after October
1, 2033.
The bill also creates annual tax performance report requirements for existing LET exemptions for leasehold interests in
public or entertainment areas of:
• Baseball stadiums with natural turf, retractable roof, and a seating capacity of more than 40,000 (82.29A.130(14)).
• Stadiums and exhibition centers constructed after January 1, 1998 (RCW 82.29A.130(15)).
• Arenas with capacity of more than 2,000 owned by a city of more than 200,000 in a county with a population less than
1,500,000 (RCW 82.29A.130(18)).
TAX PREFERENCE PERFORMANCE STATEMENT DETAILS
The bill categorizes the new tax preference as one intended to:
• Induce certain designated behavior by taxpayers as indicated in RCW 82.32.808(2)(a).
• Provide tax parity as indicated in RCW 82.32.808(2)(f).
The specific policy objective for the preference is to provide tax parity resulting in LET relief:
• For large arenas used for professional sports, the expectation is that the operational entities overseeing operations at these
facilities will provide substantial economic benefits to their specific region with a focus on:
o Providing employment opportunities for women and minority-owned businesses.
o Fostering equity and social justice with an emphasis on arena-impacted communities.
o Providing general community resource support.
o Ensuring quality access to the facilities for people across a range of income levels.
• For small arenas (capacity less than or equal to 17,000), the expectation is that
o Employees employed at the facilities receive competitive wages and benefits.
o The facilities advance and promote diverse and inclusive voices, experiences, perspectives, and employment
opportunities.
The bill directs specific areas for JLARC’s review. For large arenas, these include:
• State and local fiscal impacts.
• Employment and wages at the facility for all employers, and the degree to which employment positions have been filled by
people residing in economically distressed regions of the county in which the facility is located.
• The extent to which the operational entity provides opportunities for patrons of all income levels to enjoy programming.
• The extent to which the operational entity generally contributes resources to: organizations that serve the region; the
communities surrounding the facility; and programs and services for youth, arts, music, and culture.
For small arenas, these include:
• State and local fiscal impacts.
• Employment and wages at the facility for all employers.
• The financial stability of the facility through an examination of revenues and expenditures.
Leasehold tax/arenas, etc. 014-Joint Legislative Audit and Review Committee
Form FN (Rev 1/00) 178,037.00 Request # 6-1
FNS063 Individual State Agency Fiscal Note 2 Bill # 5052 SB
• The types of programming and events scheduled at the facility.
• The economic impact of the facility in the county in which the facility is located.
DOR is directed to provide data needed for JLARC to perform the review. JLARC is authorized to contact the entities
that manage and operate beneficiary facilities or arenas to establish documentation needed to perform the review.
The performance statement also creates criteria for reviews of the three existing LET exemptions for which the bill creates
new reporting requirements. Reviews of these preferences must use the criteria for large arena facilities.
II. B - Cash receipts Impact
Cash receipts impact of the legislation on the responding agency with the cash receipts provisions identified by section number and when appropriate, the
detail of the revenue sources. Description of the factual basis of the assumptions and the method by which the cash receipts impact is derived. Explanation
of how workload assumptions translate into estimates. Distinguished between one time and ongoing functions.
II. C - Expenditures
Agency expenditures necessary to implement this legislation (or savings resulting from this legislation), with the provisions of the legislation that result in
the expenditures (or savings) identified by section number. Description of the factual basis of the assumptions and the method by which the expenditure
impact is derived. Explanation of how workload assumptions translate into cost estimates. Distinguished between one time and ongoing functions.
JLARC staff would work with the Department of Revenue and the Employment Security Department immediately after
passage of the bill to ensure project contacts are established and data necessary for JLARC staff’s future evaluation needs
are identified and collected.
JLARC staff would also establish contacts with the entities that manage and operate beneficiary facilities or arenas to
establish documentation needed to perform the review.
JLARC staff would likely review this preference in 2031, beginning work in 2030, outside of the range of this fiscal note.
Costs associated with the review are therefore not included in this fiscal note, which reflects only the costs associated with
establishing data collection and other work to prepare for the future review of the preference.
This tax preference review may require additional resources. The audit will be conducted and presented to JLARC
consistent with the processes used for other tax preference reviews. Based on all tax preference legislation that is passed,
JLARC may subsequently determine that it can absorb the costs for this proposed bill in its base budget, if the workload of
other enacted tax preference legislation does not exceed current staffing. JLARC will assess all of the tax preference
reviews mandated in the 2023 legislative session.
This audit will require an estimated 2 audit months.
JLARC Audit Months: JLARC calculates its staff resources in "Audit Months" to estimate the time and effort to undertake
and complete its studies. An "Audit Month" reflects a JLARC analyst’s time for a month, together with related
administrative, support, and goods/services costs. JLARC’s anticipated 2021-23 costs are calculated at approximately
$22,100 per audit month.
Part III: Expenditure Detail
III. A - Operating Budget Expenditures
Account Account Title Type FY 2024 FY 2025 2023-25 2025-27 2027-29
001-1 General Fund State 20,000 6,700 26,700 13,400 13,400
Total $ 20,000 6,700 26,700 13,400 13,400
Leasehold tax/arenas, etc. 014-Joint Legislative Audit and Review Committee
Form FN (Rev 1/00) 178,037.00 Request # 6-1
FNS063 Individual State Agency Fiscal Note 3 Bill # 5052 SB
III. B - Expenditures by Object Or Purpose
FY 2024 FY 2025 2023-25 2025-27 2027-29
FTE Staff Years 0.1 0.1
A-Salaries and Wages 12,900 4,300 17,200 8,600 8,600
B-Employee Benefits 4,100 1,400 5,500 2,800 2,800
C-Professional Service Contracts
E-Goods and Other Services 2,700 900 3,600 1,800 1,800
G-Travel 300 100 400 200 200
J-Capital Outlays
M-Inter Agency/Fund Transfers
N-Grants, Benefits & Client Services
P-Debt Service
S-Interagency Reimbursements
T-Intra-Agency Reimbursements
9-
Total $ 20,000 6,700 26,700 13,400 13,400
III. C - Operating FTE Detail: List FTEs by classification and corresponding annual compensation. Totals need to agree with total FTEs in
Part I and Part IIIA
Job Classification Salary FY 2024 FY 2025 2023-25 2025-27 2027-29
Research Analyst 126,694 0.1 0.1
Support staff 89,671
Total FTEs 0.1 0.1 0.0
III. D - Expenditures By Program (optional)
NONE
Part IV: Capital Budget Impact
IV. A - Capital Budget Expenditures
NONE
IV. B - Expenditures by Object Or Purpose
NONE
IV. C - Capital Budget Breakout
Acquisition and construction costs not reflected elsewhere on the fiscal note and description of potential financing methods.
NONE
IV. D - Capital FTE Detail: FTEs listed by classification and corresponding annual compensation. Totals agree with total FTEs in Part IVB.
NONE
Part V: New Rule Making Required
Provisions of the bill that require the agency to adopt new administrative rules or repeal/revise existing rules.
Leasehold tax/arenas, etc. 014-Joint Legislative Audit and Review Committee
Form FN (Rev 1/00) 178,037.00 Request # 6-1
FNS063 Individual State Agency Fiscal Note 4 Bill # 5052 SB
Department of Revenue Fiscal Note
Bill Number: 5052 SB Title: Leasehold tax/arenas, etc. Agency: 140-Department of Revenue
Part I: Estimates
No Fiscal Impact
Estimated Cash Receipts to:
Account FY 2024 FY 2025 2023-25 2025-27 2027-29
GF-STATE-State 900,000 (1,500,000) (600,000) (3,000,000) (3,100,000)
01 - Taxes 59 - Leasehold Excise Tax
Total $ 900,000 (1,500,000) (600,000) (3,000,000) (3,100,000)
Estimated Expenditures from:
FY 2024 FY 2025 2023-25 2025-27 2027-29
FTE Staff Years 0.7 0.3 0.5 0.2 0.2
Account
GF-STATE-State 001-1 84,300 31,900 116,200 44,000 44,000
Total $ 84,300 31,900 116,200 44,000 44,000
Estimated Capital Budget Impact:
NONE
The cash receipts and expenditure estimates on this page represent the most likely fiscal impact. Factors impacting the precision of these estimates,
and alternate ranges (if appropriate), are explained in Part II.
Check applicable boxes and follow corresponding instructions:
If fiscal impact is greater than $50,000 per fiscal year in the current biennium or in subsequent biennia, complete entire fiscal note
X
form Parts I-V.
If fiscal impact is less than $50,000 per fiscal year in the current biennium or in subsequent biennia, complete this page only (Part I).
Capital budget impact, complete Part IV.
X Requires new rule making, complete Part V.
Legislative Contact: Clinton McCarthy Phone:
360-786-7319 Date: 01/07/2023
Agency Preparation: Frank Wilson Phone:
360-534-1527 Date: 01/14/2023
Agency Approval: Valerie Torres Phone:
360-534-1521 Date: 01/14/2023
OFM Review: Cheri Keller Phone:
(360) 584-2207 Date: 01/16/2023
Request # 5052-1-1
Form FN (Rev 1/00) 178,332.00 1 Bill # 5052 SB
FNS062 Department of Revenue Fiscal Note
Part II: Narrative Explanation
II. A - Brief Description Of What The Measure Does That Has Fiscal Impact
Significant provisions of the bill and any related workload or policy assumptions that have revenue or expenditure impact on the responding agency by
section number.
CURRENT LAW:
Leasehold excise tax (LET) is paid by a private entity that leases/uses public property under current law. This includes
leases of government-owned property exempt from property taxes. The combined state and local rate for LET is 12.84% of
the rent paid for the property. The state general fund receives 6.84% and the remaining 6% goes to local governments.
PROPOSAL:
This proposal creates an exemption from LET for all leasehold interests in the public or entertainment areas of any arena if
the arena:
- Has a seating capacity of more than 4,000;
- Is located in a city with a population of over 100,000;
- Is located on city-owned land; and
- Private entities responsible for 100% of the funds used for construction improvements to the arena not reimbursed by the
public owner.
The proposal also requires taxpayers claiming a LET exemption for certain stadiums and arenas to file a complete annual
tax performance report.
The proposal expires January 1, 2034.
EFFECTIVE DATE:
This proposal takes effect October 1, 2023.
II. B - Cash receipts Impact
Cash receipts impact of the legislation on the responding agency with the cash receipts provisions identified by section number and when appropriate,
the detail of the revenue sources. Description of the factual basis of the assumptions and the method by which the cash receipts impact is derived.
Explanation of how workload assumptions translate into estimates. Distinguished between one time and ongoing functions.
ASSUMPTIONS:
- This LET exemption applies only to the Climate Pledge Arena.
- Climate Pledge Arena meets the private entity funding the construction improvements not reimbursed by the public
requirement.
- These estimates use LET collections data from Quarter 4, 2021 to Quarter 3, 2022.
- Growth mimics the Economic and Revenue Forecast Council's forecast for LET.
DATA SOURCES:
- Department of Revenue, leasehold excise tax data
- Economic and Revenue Forecast Council, November 2022 forecast
REVENUE ESTIMATES:
This bill decreases state revenues by an estimated $0.9 million in the eight months of impacted collections in fiscal year
2024, and by $1.5 million in fiscal year 2025, the first full year of impacted collections. This bill also decreases local
revenues by an estimated $0.9 million in the eight months of impacted collections in fiscal year 2024, and by $1.3 million in
fiscal year 2025, the first full year of impacted collections.
TOTAL REVENUE IMPACT:
Request # 5052-1-1
Form FN (Rev 1/00) 178,332.00 2 Bill # 5052 SB
FNS062 Department of Revenue Fiscal Note
State Government (cash basis, $000):
FY 2024 - ($ 900)
FY 2025 - ($ 1,500)
FY 2026 - ($ 1,500)
FY 2027 - ($ 1,500)
FY 2028 - ($ 1,500)
FY 2029 - ($ 1,600)
Local Government, if applicable (cash basis, $000):
FY 2024 - ($ 900)
FY 2025 - ($ 1,300)
FY 2026 - ($ 1,300)
FY 2027 - ($ 1,300)
FY 2028 - ($ 1,400)
FY 2029 - ($ 1,400)
II. C - Expenditures
Agency expenditures necessary to implement this legislation (or savings resulting from this legislation), with the provisions of the legislation that result in
the expenditures (or savings) identified by section number. Description of the factual basis of the assumptions and the method by which the expenditure
impact is derived. Explanation of how workload assumptions translate into cost estimates. Distinguished between one time and ongoing functions.
ASSUMPTIONS:
This bill affects 10 or less taxpayers.
FIRST YEAR COSTS:
The department will incur total costs of $84,300 in fiscal year 2024. These costs include:
Labor Costs - Time and effort equate to 0.66 FTE.
- Computer system testing, monitoring, and maintenance to update annual tax reporting for the new incentive.
- Review and monitor reports, scrutinize data, and examine accounts and make corrections as necessary.
- Develop and maintain annual tax incentive report questions.
- Review annual tax incentive report submissions, work to verify submission accuracy, and compile statistics and reports.
- Amend one administrative rule.
Object Costs - $8,800.
- Computer system changes, including contract programming.
SECOND YEAR COSTS:
The department will incur total costs of $31,900 in fiscal year 2025. These costs include:
Labor Costs - Time and effort equate to 0.3 FTE.
- Continue to review and monitor reports, scrutinize data, and examine accounts and make corrections as necessary.
- Develop and maintain annual tax incentive report questions.
- Review annual tax incentive report submissions, work to verify submission accuracy, and compile statistics and reports.
ONGOING COSTS:
Ongoing costs for the 2025-27 biennium equal $44,000 and include similar activities described in the second-year costs. Time
and effort equate to 0.2 FTE per year.
Request # 5052-1-1
Form FN (Rev 1/00) 178,332.00 3 Bill # 5052 SB
FNS062 Department of Revenue Fiscal Note
Part III: Expenditure Detail
III. A - Expenditures by Object Or Purpose
FY 2024 FY 2025 2023-25 2025-27 2027-29
FTE Staff Years 0.7 0.3 0.5 0.2 0.2
A-Salaries and Wages 46,400 20,800 67,200 29,400 29,400
B-Employee Benefits 15,300 6,900 22,200 9,600 9,600
C-Professional Service Contracts 8,800 8,800
E-Goods and Other Services 9,400 3,300 12,700 3,800 3,800
J-Capital Outlays 4,400 900 5,300 1,200 1,200
Total $ $84,300 $31,900 $116,200 $44,000 $44,000
III. B - Detail: FTEs listed by classification and corresponding annual compensation. Totals agree with total FTEs in Part I and Part IIIA.
Job Classification Salary FY 2024 FY 2025 2023-25 2025-27 2027-29
EMS BAND 4 126,619 0.0 0.0
EXCISE TAX EX 3 61,632 0.2 0.2 0.2 0.1 0.1
MGMT ANALYST4 73,260 0.2 0.1
TAX POLICY SP 2 75,120 0.0 0.0
TAX POLICY SP 3 85,020 0.2 0.1 0.2 0.1 0.1
TAX POLICY SP 4 91,524 0.0 0.0
WMS BAND 3 107,685 0.0 0.0
Total FTEs 0.7 0.3 0.5 0.2 0.2
III. C - Expenditures By Program (optional)
NONE
Part IV: Capital Budget Impact
IV. A - Capital Budget Expenditures
NONE
IV. B - Expenditures by Object Or Purpose
NONE
IV. C - Capital Budget Breakout
Acquisition and construction costs not reflected elsewhere on the fiscal note and description of potential financing methods.
NONE
Part V: New Rule Making Required
Provisions of the bill that require the agency to adopt new administrative rules or repeal/revise existing rules.
Should this legislation become law, the department will use the expedited process to amend WAC 458-29A-400, titled:
"Leasehold excise tax - Exemptions". Persons affected by this rulemaking would include qualifying arenas and stadiums.
Request # 5052-1-1
Form FN (Rev 1/00) 178,332.00 4 Bill # 5052 SB
FNS062 Department of Revenue Fiscal Note
LOCAL GOVERNMENT FISCAL NOTE
Department of Commerce
Bill Number: 5052 SB Title: Leasehold tax/arenas, etc.
Part I: Jurisdiction-Location, type or status of political subdivision defines range of fiscal impacts.
Legislation Impacts:
X Cities: revenue decrease
X Counties: revenue decrease
X Special Districts: Public Facility Districts filing annual tax performance reports
X Specific jurisdictions only: City of Seattle, King County
Variance occurs due to:
Part II: Estimates
No fiscal impacts.
Expenditures represent one-time costs:
Legislation provides local option:
X Key variables cannot be estimated with certainty at this time: costs of filing annual tax performance reports
Estimated revenue impacts to:
Jurisdiction FY 2024 FY 2025 2023-25 2025-27 2027-29
City (600,000) (866,667) (1,466,667) (1,733,334) (1,866,666)
County (300,000) (433,333) (733,333) (866,666) (933,334)
TOTAL $ (900,000) (1,300,000) (2,200,000) (2,600,000) (2,800,000)
GRAND TOTAL $ (7,600,000)
Estimated expenditure impacts to:
Non-zero but indeterminate cost and/or savings. Please see discussion.
Part III: Preparation and Approval
Fiscal Note Analyst: Angie Hong Phone: 360-725-5041 Date: 01/16/2023
Leg. Committee Contact: Clinton McCarthy Phone: 360-786-7319 Date: 01/07/2023
Agency Approval: Allan Johnson Phone: 360-725-5033 Date: 01/16/2023
OFM Review: Cheri Keller Phone: (360) 584-2207 Date: 01/17/2023
Page 1 of 2 Bill Number: 5052 SB
FNS060 Local Government Fiscal Note
Part IV: Analysis
A. SUMMARY OF BILL
Description of the bill with an emphasis on how it impacts local government.
This bill creates a leasehold excise tax exemption for all leasehold interests for a certain arena. The Dept. of Revenue
fiscal note assumes this arena is the Climate Pledge Arena.
This bill will require organizations operating certain stadiums and arenas to file an annual tax performance report beginning
in the calendar year 2024.
B. SUMMARY OF EXPENDITURE IMPACTS
Expenditure impacts of the legislation on local governments with the expenditure provisions identified by section number and when
appropriate, the detail of expenditures. Delineated between city, county and special district impacts.
An indeterminate and minimal cost is expected for public facility districts filing annual tax performance reports with the
Dept. of Revenue. It is unknown if these costs will fit into current job responsibilities or if they will require additional time
and effort.
C. SUMMARY OF REVENUE IMPACTS
Revenue impacts of the legislation on local governments, with the revenue provisions identified by section number, and when
appropriate, the detail of revenue sources. Delineated between city, county and special district impacts.
According to the Dept. of Revenue fiscal note, this bill decreases local revenues by an estimated $0.9 million in the eight
months of impacted collections in fiscal year 2024, and by $1.3 million in fiscal year 2025, the first full year of impacted
collections. The local leasehold tax rate is 6%.
According to the Municipal Research Services Center’s Revenue Guide, the maximum county rate that can be levied
against the state is 6%. The maximum city rate that can be credited against the county is 4%. Assuming that the City of
Seattle and King County levy the maximum rates possible, Seattle will bear 2/3 of the loss and King County will bear 1/3
of the loss in revenue.
Local Government loss Seattle loss King County loss
FY 2024 - ($ 900,000) = ($ 600,000) ($ 300,000)
FY 2025 - ($ 1,300,000) = ($ 866,667) ($ 433,333)
FY 2026 - ($ 1,300,000) = ($ 866,667) ($ 433,333)
FY 2027 - ($ 1,300,000) = ($ 866,667) ($ 433,333)
FY 2028 - ($ 1,400,000) = ($ 933,333) ($ 466,667)
FY 2029 - ($ 1,400,000) = ($ 933,333) ($ 466,667)
SOURCES
Association of Washington Cities
Municipal Research Services Center Revenue Guide
Dept. of Revenue Fiscal Note Draft
Page 2 of 2 Bill Number: 5052 SB
FNS060 Local Government Fiscal Note
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