Bill
HB 1847
Overview: HB 1847 - Establishing permanent funding for a community preservation and development authority approved through RCW 43.167.060.Purpose and Intent: This bill aims to prov
Overview: HB 1847 - Establishing permanent funding for a community preservation and development authority approved through RCW 43.167.060.
Purpose and Intent: This bill aims to provide a dedicated and sustainable funding source for community preservation and development authorities (CPDAs) approved under RCW 43.167.060.
Key Provisions:
- Establishes a permanent funding mechanism for CPDAs through a portion of the state's sales and use tax revenue.
- Allocates 0.0146% of the state sales and use tax to be distributed to eligible CPDAs on a quarterly basis.
- Requires CPDAs to submit annual reports on the use of the funds and their community impact.
Affected Parties and Impacts:
- Existing and future CPDAs approved under RCW 43.167.060 will receive stable, ongoing funding to support their community preservation and development initiatives.
- Local communities served by CPDAs will benefit from the sustained investment in their neighborhoods and economic development.
Procedural and Timeline Considerations:
The bill has been placed in the House Rules "X" file, indicating it is currently not scheduled for further action. If passed, the funding mechanism would take effect at the start of the next fiscal year.
Compiled from official sources — confirm details with the bill’s official record.
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