wa-law.org > bill > 2023-24 > SB 5406 > Original Bill
Nothing in this section repeals or modifies procedures for property sales within industrial development districts as set forth in chapter 53.25 RCW.
(a) Beginning on the effective date of this section, the value limit in subsection (1) of this section is $22,000. Beginning December 2024, and each December thereafter, the department shall adjust the value limit for the following calendar year by multiplying the current value limit by one plus the percentage by which the most current consumer price index available on December 1st of the current year exceeds the consumer price index for the prior 12-month period, and rounding the result to the nearest $10.
For purposes of this subsection (2):
"Consumer price index" means the consumer price index for all urban consumers, all items less food and energy, for the Seattle area as calculated by the United States bureau of labor statistics or successor agency.
"Seattle area" means the geographic area sample that includes Seattle and surrounding areas.
The value of the article used with respect to refinery fuel gas under this chapter is the most recent monthly United States Henry Hub natural gas spot price, as published by the federal energy information administration. If the Henry Hub natural gas spot price is no longer published, the department may by rule provide for a method or methods for determining the value of the article used with respect to refinery fuel gas.
In lieu of the use tax rate provided in RCW 82.12.020, refinery fuel gas is subject to a rate of:
0.963 percent from January 1, 2018, through December 31, 2018;
1.926 percent from January 1, 2019, through December 31, 2019;
2.889 percent from January 1, 2020, through December 31, 2020; and
3.852 percent from January 1, 2021, and thereafter.
The use of fuel by the extractor or manufacturer thereof when used directly in the operation of the particular extractive operation or manufacturing plant that produced or manufactured the same is not subject to local use tax.
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A tax is imposed on the privilege of possession of hazardous substances in this state. Except as provided in (b) of this subsection, the rate of the tax is seven-tenths of one percent multiplied by the wholesale value of the substance. Moneys collected under this subsection (1)(a) must be deposited in the model toxics control capital account.
For the fiscal year beginning July 1, 2019, the rate of the tax on petroleum products is $1.09 per barrel. For subsequent fiscal years, the rate of tax on petroleum products is determined pursuant to subsection (3) of this section. The tax collected under this subsection (1)(b) on petroleum products must be deposited as follows, after first depositing the tax as provided in (c) of this subsection, except that during the 2021-2023 biennium the deposit as provided in (c) of this subsection may be prorated equally across each month of the biennium:
Sixty percent to the model toxics control operating account created under RCW 70A.305.180;
Twenty-five percent to the model toxics control capital account created under RCW 70A.305.190; and
Fifteen percent to the model toxics control stormwater account created under RCW 70A.305.200.
Until the beginning of the ensuing biennium after the enactment of an additive transportation funding act, $50,000,000 per biennium to the motor vehicle fund to be used exclusively for transportation stormwater activities and projects. For purposes of this subsection, "additive transportation funding act" means an act enacted after June 30, 2023, in which the combined total of new revenues deposited into the motor vehicle fund and the multimodal transportation account exceed $2,000,000,000 per biennium attributable solely to an increase in revenue from the enactment of the act.
The department must compile a list of petroleum products that are not easily measured on a per barrel basis. Petroleum products identified on the list are subject to the rate under (a) of this subsection in lieu of the volumetric rate under (b) of this subsection. The list will be made in a form and manner prescribed by the department and must be made available on the department's internet website. In compiling the list, the department may accept technical assistance from persons that sell, market, or distribute petroleum products and consider any other resource the department finds useful in compiling the list.
Chapter 82.32 RCW applies to the tax imposed in this chapter. The tax due dates, reporting periods, and return requirements applicable to chapter 82.04 RCW apply equally to the tax imposed in this chapter.
For fiscal years beginning on or after July 1, 2020, the rate of tax on petroleum products for the previous fiscal year must be adjusted to reflect the percentage change in the implicit price deflator for nonresidential structures as published by the United States department of commerce, bureau of economic analysis for the most recent 12-month period ending December 31st of the prior year.