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Call: 360.736.8065 E-mail: chad @ silveragency. com Download a rate card: www. awb. org / WaBusinessAds the collection of taxes on royalties.
• No new or increased taxes.
• No tax preferences / incentives closed.
• As passed by the Legislature, it met the four-year balanced budget requirement, however the governor’ s line-item vetoes threw the four-year budget out of balance.
Gov. Jay Inslee vetoed a number of sections in the budget. While these vetoes left the current budget in balance, they resulted in an imbalance in the extended four-year budget.
ESHB 2988 budget stabilization account
Passed / AWB Supported
One of the central pieces throughout the 2016 budget discussion focused on the appropriate use of the Budget Stabilization Account. The account, commonly referred to as the“ Rainy Day Fund,” was established in the state constitution in 2007. These funds can only be used in the event of a declared emergency, an economic downturn, or by a supermajority( threefifths) vote of the House and Senate. AWB supported limited use of the funds for the purpose of covering costs associated with the historic 2015 wildfires, staving off earlier proposals that would have distributed the funds to various policy additions. The final version of Engrossed Substitute House Bill 2988 exclusively funded fire suppression costs and left a responsible level of reserve in the account.
ESHB 2540 / SB 6412 annual tax surveys and reports
Passed / AWB Supported
AWB strongly supported Engrossed Substitute House Bill 2540, sponsored by Rep. Terry Nealey, R-Dayton. According to the underlying law, a taxpayer who qualifies for an economic developmentrelated tax preference is subject to a penalty of 100 percent of the tax preference claimed if they fail to submit the required survey or report. ESHB 2540 takes the penalty from the unreasonably high level of 100 percent down to 35 percent for the first time a taxpayer is assessed a penalty for failing to submit the survey or report, with an additional 15 percent penalty for failure to submit future surveys or reports for the same tax preference. This was a priority piece of legislation for AWB.
HB 2565 local sales & use tax changes
Passed / AWB Supported
House Bill 2565 has been a longstanding legislative objective for AWB, reducing the number of times local sales and use tax can be changed from four times a year to three times a year. Sponsored by Rep. Brandon Vick, R-Felida, the bill passed this year with unanimous votes in both the House and Senate. Under HB 2565, local changes can only take place in January, April, and July. Previously changes could also take place in October. This bill represents a small but important step toward reducing the administrative burden on businesses, particularly small businesses, in Washington state.
EHB 2959 business tax and licenses
Passed / AWB Supported
The Chair of the House Finance Committee, Rep. Kristine Lytton, D-Anacortes, prime sponsored Engrossed House Bill 2959. AWB strongly supported this policy, advancing it as a legislative objective. EHB 2959 establishes a Department of Revenue directed task force composed of representatives from cities and business to evaluate and recommend policy options to continue simplifying the administration of local business taxes and licensing. Navigating the labyrinth of the various
32 association of washington business