2005 Washington Revised Code RCW 43.88.094: Development of budget — Calculation — Tourism development division, department of community, trade, and economic development. (Expires June 30, 2008.)

(1) The budget amount designated in RCW 43.88.093(1) is the sum of the base amount and the growth component as calculated under subsection (2) of this section.

     (2) The director of the department of community, trade, and economic development shall calculate the tourism development division budget in consultation with the appropriate agencies in the following manner:

     (a) The base amount, beginning in the budget for the biennium ending June 30, 2001, and for each subsequent biennium thereafter, equals the previous biennial budget, including any supplemental allocations and any growth component amounts from previous biennia.

     (b) For the growth component, beginning in the budget for the biennium ending June 30, 2001: (i) Compute the state retail sales tax revenues for the target business categories for the calendar year two years prior to the beginning of the biennium for which the budget request will be made; (ii) compute the state retail sales tax revenues for the target business categories for the calendar year four years prior to the beginning of the biennium for which the budget request will be made; (iii) calculate the percentage change in these two sales tax revenue amounts; (iv) if the percentage exceeds eight percent growth, calculate the amount of sales tax revenue that represents the excess in revenue growth greater than six percent; and (v) calculate the growth component by dividing the excess revenue growth by two. The amount of the growth component for any biennium shall not exceed two million dollars per fiscal year for the biennium.

     (3) As used in this section:

     (a) "Target business categories" means businesses in standard industrial classification codes 58 (eating and drinking), 70 (lodging), 7514 (auto rental), and 79 (recreation). If at any time the United States office of management and budget or a successor agency should change or replace the present standard industrial classification code system, the department of community, trade, and economic development shall use the code system issued by the office of management and budget or its successor agency to determine codes corresponding to those listed in this definition.

     (b) "Retail sales" means the gross sales subject to the tax imposed in chapter 82.08 RCW received by businesses identified in department of revenue records by standard industrial classification codes 58, 70, 7514, and 79.

     (4) This section expires June 30, 2008.

[1998 c 299 § 4.]

Intent -- Effective date -- 1998 c 299: See notes following RCW 43.88.093.