Revised Code of Washington - RCW Title 39 Public Contracts And Indebtedness - Chapter 39.102 Local Infrastructure Financing Tool Program
- 39.102.010 Finding
The legislature recognizes that the state as a whole benefits from investment in public infrastructure because it promotes community and economic development. Public investment stimulates ...
- 39.102.020 Definitions
The definitions in this section apply throughout this chapter unless the context clearly requires otherwise. (1) "Annual state contribution limit" means seven million five hundred ...
- 39.102.030 Creation
The local infrastructure financing tool program is created to assist local governments in financing authorized public infrastructure projects designed to promote economic development in the ...
- 39.102.040 Application process -- Board approval
(1) Prior to applying to the board to use local infrastructure financing, a sponsoring local government shall: (a) Designate a revenue development area within the ...
- 39.102.050 Demonstration projects
(1) In addition to a competitive process, demonstration projects are provided to determine the feasibility of the local infrastructure financing tool. Notwithstanding RCW 39.102.040, the ...
- 39.102.060 Limitations on revenue development areas
The designation of a revenue development area is subject to the following limitations: (1) The taxable real property within the revenue development area boundaries may ...
- 39.102.070 Local infrastructure financing -- Conditions
The use of local infrastructure financing under this chapter is subject to the following conditions: (1) No funds may be used to finance, design, acquire, ...
- 39.102.080 Revenue development area adoption -- Process
Before adopting an ordinance creating the revenue development area, a sponsoring local government must: (1) Obtain written agreement from any participating local government and participating ...
- 39.102.090 Revenue development area adoption -- Ordinance -- Hearing and delivery requirements
(1) To adopt a revenue development area, a sponsoring local government, and any cosponsoring local government, must adopt an ordinance establishing the revenue development area ...
- 39.102.100 Revenue development area adoption -- Notice requirements
Prior to adopting the ordinance creating the revenue development area and to meet the requirements of RCW 39.102.150(1)(b), a sponsoring local government and any cosponsoring ...
- 39.102.110 Local excise tax allocation revenues
(1) A sponsoring local government or participating local government that has received approval by the board to use local infrastructure financing may use annually its ...
- 39.102.120 Local property tax allocation revenues
(1) Commencing in the second calendar year following board approval of a revenue development area, the county treasurer shall distribute receipts from regular taxes imposed ...
- 39.102.130 Use of sales and use tax funds
Money collected from the taxes imposed under RCW 82.14.475 may be used only for the purpose of paying debt service on bonds issued under the ...
- 39.102.140 Reporting requirements
(1) A sponsoring local government shall provide a report to the board and the department by March 1st of each year. The report shall contain ...
- 39.102.150 Issuance of general obligation bonds
(1) A sponsoring local government that has designated a revenue development area and been authorized the use of local infrastructure financing may incur general indebtedness, ...
- 39.102.160 Use of tax revenue for bond repayment
A sponsoring local government that issues bonds under RCW 39.102.150 to finance public improvements may pledge for the payment of such bonds all or part ...
- 39.102.170 Limitation on bonds issued
The bonds issued by a sponsoring local government under RCW 39.102.150 to finance public improvements shall not constitute an obligation of the state of Washington, ...
- 39.102.190 Revenue bonds to fund public improvements
(1) A sponsoring local government may issue revenue bonds to fund revenue-generating public improvements, or portions of public improvements, that are located within a revenue ...
- 39.102.195 Limitation on use of revenues
Local excise tax allocation revenues, local property tax allocation revenues, other revenues from local public sources, that are dedicated to local infrastructure financing, and revenues ...
- 39.102.200 Joint legislative audit and review committee reports
Beginning September 1, 2013, and continuing every five years thereafter, the joint legislative audit and review committee shall submit a report to the appropriate committees ...
- 39.102.210 Program evaluation
The department of revenue and the community economic revitalization board shall evaluate and periodically report on the implementation of the local infrastructure financing [tool] program ...
- 39.102.220 Administration by department and board
The department of revenue and the community economic revitalization board may adopt any rules under chapter 34.05 RCW they consider necessary for the administration of ...
- 39.102.900 Captions and part headings not law -- 2006 c 181
Captions and part headings used in this act are not any part of the law.[2006 c 181 § 703.] ...
- 39.102.901 Severability -- 2006 c 181
If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application ...
- 39.102.902 Construction -- 2006 c 181
Nothing in this act shall be construed to give port districts the authority to impose a sales or use tax under chapter 82.14 RCW.[2006 c ...
- 39.102.903 Effective date -- 2006 c 181
This act takes effect July 1, 2006.[2006 c 181 § 706.] ...
- 39.102.904 Expiration date -- 2006 c 181
This act expires June 30, 2039.[2006 c 181 § 707.] ...
Last modified: April 7, 2009