Chapter 5.108
LOCAL REVITALIZATION FINANCING DISTRICT SALES AND USE TAX
Sections:
5.108.010 Imposition of sales and use tax.
5.108.020 Requirements of RCW 82.14.510(6).
5.108.030 Duration of the LRF tax.
5.108.040 Use of proceeds of the LRF tax.
5.108.050 Consistency with law.
5.108.010 Imposition of sales and use tax.
Pursuant to RCW 82.14.510, the city hereby fixes and imposes a sales and use tax at the rate of 0.071 percent of the selling price, in the case of a sales tax, or value of article used, in the case of a use tax (the “LRF tax”).
The LRF tax shall be in addition to other taxes authorized by law, and shall be collected from those persons who are taxed by the state under Chapters 82.08 and 82.12 RCW upon the occurrence of any taxable event within the taxing jurisdiction of the city. The LRF tax shall be credited against the state taxes imposed under RCW 82.08.020(1) and 82.12.020 at the rate provided in RCW 82.08.020. The Washington State Department of Revenue must perform the collection and distribution of such taxes on behalf of the city at no cost to the city and must distribute such taxes to the city as provided in RCW 82.14.060. (Ord. 2013-13 § 1)
5.108.020 Requirements of RCW 82.14.510(6).
Pursuant to RCW 82.14.510(6), the city hereby ordains further that:
(1) The LRF tax will first be imposed on July 1, 2013;
(2) The cumulative amount of LRF tax received by the city, in any fiscal year, may not exceed the amount approved by the Washington State Department of Revenue under RCW 82.14.510(10);
(3) The Washington State Department of Revenue must cease distributing the LRF tax for the remainder of any fiscal year in which either: (a) the amount of the LRF tax received by the city equals the amount of distributions approved by the Washington State Department of Revenue for the fiscal year under RCW 82.14.510(10); or (b) the amount of revenue distributed to all sponsoring and cosponsoring local governments from taxes imposed under RCW 82.14.510 equals the annual state contribution limit;
(4) The LRF tax will be distributed again, should it cease to be distributed for any of the reasons provided in subsection (3) of this section, at the beginning of the next fiscal year, subject to the restrictions in RCW 82.14.510; and
(5) The state is entitled to any revenue generated by the LRF tax in excess of the amounts specified in subsection (3) of this section. (Ord. 2013-13 § 2)
5.108.030 Duration of the LRF tax.
The LRF tax shall be in effect from July 1, 2013, until earlier of the date that the bonds issued under the authority of RCW 39.104.110 are retired or 25 years after the LRF tax is first imposed. (Ord. 2013-13 § 3)
5.108.040 Use of proceeds of the LRF tax.
Money collected from the LRF tax may be used only for the purpose of paying debt service on bonds issued under the authority in RCW 39.104.110. (Ord. 2013-13 § 4)
5.108.050 Consistency with law.
The LRF tax shall comply with all applicable rules, regulations, laws, and court decisions regarding sales and use taxes as imposed by the state under Chapters 82.08 and 82.12 RCW and imposed by municipalities under Chapter 82.14 RCW, and applicable regulations. The provisions of those chapters, to the extent they are not inconsistent with this chapter, shall apply as though fully set forth herein. (Ord. 2013-13 § 5)
5.108.060 Inconsistency.
In the event of any inconsistency between the provisions of this chapter and the provisions of RCW 82.14.510, the provisions of RCW 82.14.510 shall control. (Ord. 2013-13 § 10)