Introduced by Sen. Linda Evans Parlette, (R-Wenatchee) (R) on January 21, 2009, to make a technical change to the interest rate and penalty that is collected in the current use program. New language in the bill would require using a rate near or equal to the federal short term rate for applying interest or a penalty.
Referred to the Senate Ways & Means Committee on January 21, 2009.
Substitute offered in the Senate on February 25, 2009, provides that the interest will not compound over the seven years of the additional tax; rather, it will be applied to the total amount of additional tax. The substitute passed in the Senate by voice vote on February 25, 2009.
Referred to the Senate Rules Committee on February 25, 2009.
Referred to the House Finance Committee on March 13, 2009.
Received in the Senate on January 11, 2010.
Referred to the Senate Rules Committee on January 28, 2010.
Amendment offered by Sen. Linda Evans Parlette, (R-Wenatchee) (R) on February 5, 2010, to change the interest rate on property tax upon removal from a current use program. Under current law, the rate is 12%. Under the bill as it was introduced, the rate was the short-term federal rate, plus two percentage points. The striking amendment changes the interest rate to the property tax refund rate provided in RCW 84.69.100. The amendment also removes hold harmless provisions, which were enacted by separate legislation in 2009. The effective date is updated. The amendment passed in the Senate by voice vote on February 5, 2010.
Passed in the Senate (43 to 5) on February 5, 2010, to provide that property owners in the current use program may
give the county assessor notice of intent to withdraw property from the program after the initial ten-year classification period. Notice two years in advance is no longer required. The interest rate on the additional tax is changed from the rate of 12 percent to the federal short-term rate plus two percentage points. [Vote Details and Comments]
Received in the House on February 8, 2010.
Referred to the House Finance Committee on February 5, 2010.
Referred to the Senate Rules Committee on March 11, 2010.