House Background Summary — HB 1527, Local Tax Increment Financing (March 6, 2023)

Summary

House Background Summary of HB 1527, As Passed House March 6, 2023, titled an act relating to making technical corrections to the local tax increment financing program under chapter 39.114 RCW. Sponsors are listed as Representatives Wylie, Sandlin, Duerr, Barnard, Connors, Chapman, Waters, Springer, Harris and Gregerson, by request of State Treasurer. The brief history lists Finance committee activity on 2/7/23 and 2/9/23 and floor activity of Passed House: 3/6/23, 80-15. Persons testifying include Representative Sharon Wylie, prime sponsor, and Matt Zuvich of Office of State Treasurer.

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                  HOUSE BACKGROUND SUMMARY
                            HB 1527
                                        As Passed House:
                                         March 6, 2023

Title: An act relating to making technical corrections to the local tax increment financing
     program under chapter 39.114 RCW by applying the definition of real property to ensure
     private investments made on state and local government-owned land are included in the
     increment value, ensuring that the relocation and construction of a government-owned
     facility is included as an eligible project, ensuring that acquisition costs include appurtenant
     rights, providing clarification to definitions of increment value and tax allocation base value
     for consistency with current law, clarifying notice requirements for the creation of a tax
     increment area, and creating consistency with current law for add-on levies codified in
     RCW 84.55.010.

Brief Description: Making technical corrections to the local tax increment financing program.

Sponsors: Representatives Wylie, Sandlin, Duerr, Barnard, Connors, Chapman, Waters,
    Springer, Harris and Gregerson; by request of State Treasurer.

Brief History:
     Committee Activity:
         Finance: 2/7/23, 2/9/23 [DP].
     Floor Activity:
         Passed House: 3/6/23, 80-15.

Voting Yea: Representatives Abbarno, Alvarado, Barkis, Barnard, Bateman, Berg, Bergquist,
Berry, Caldier, Callan, Chapman, Cheney, Chopp, Christian, Connors, Corry, Cortes, Davis,
Dent, Doglio, Donaghy, Duerr, Entenman, Eslick, Farivar, Fey, Fitzgibbon, Fosse, Goehner,
Goodman, Graham, Gregerson, Griffey, Hackney, Harris, Hutchins, Klicker, Kloba, Kretz,
Lekanoff, Low, Macri, Maycumber, McClintock, Mena, Morgan, Mosbrucker, Ormsby, Ortiz-
Self, Orwall, Peterson, Pollet, Ramel, Ramos, Reed, Reeves, Riccelli, Robertson, Rude, Ryu,
Sandlin, Schmick, Schmidt, Senn, Simmons, Slatter, Springer, Stearns, Steele, Stokesbary,
Stonier, Street, Taylor, Thai, Tharinger, Walen, Waters, Wilcox, Wylie and Jinkins

Voting Nay: Representatives Bronoske, Chambers, Couture, Dye, Jacobsen, Leavitt, McEntire,
Orcutt, Paul, Rule, Santos, Shavers, Timmons, Walsh and Ybarra




                                                -1-                                          HB 1527
Absent:

Excused: Representatives Chandler, Hansen and Volz

    Persons Testifying: Representative Sharon Wylie, prime sponsor; Candice Bock,
    Association of Washington Cities; Mike Bomar, Port of Vancouver USA; Matt Zuvich,
    Office of State Treasurer; and Chris Herman, Washington Public Ports Association.

    Persons Signed In To Testify But Not Testifying: None.




                                          -2-                                     HB 1527


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