2005 Washington Revised Code RCW 82.14.470: Hospital benefit zones — Local public sources dedicated to finance public improvements — Reporting requirements — Definitions.

(1) Moneys collected from the taxes imposed under RCW 82.14.465 shall be used only for the purpose of principal and interest payments on bonds issued under the authority of RCW 39.100.060 and must be matched with an amount from local public sources dedicated through December 31st of the previous calendar year to finance public improvements authorized under chapter 39.100 RCW. Such local public sources include but are not limited to private monetary contributions and tax allocation revenues. Local public sources are dedicated to finance public improvements if they are actually expended to pay public improvement costs or are required by law or an agreement to be used exclusively to pay public improvement costs.

     (2) A local government shall inform the department by the first day of March of the amount of local public sources dedicated in the preceding calendar year to finance public improvements authorized under chapter 39.100 RCW.

     (3) If a local government fails to comply with subsection (2) of this section, no tax may be imposed under RCW 82.14.465 in the subsequent fiscal year.

     (4) A local government shall provide a report to the department by March 1st of each year. The report shall contain the following information:

     (a) The amount of tax allocation revenues, taxes under RCW 82.14.465, and local public sources received by the local government during the preceding calendar year, and a summary of how these revenues were expended;

     (b) The names of any businesses locating within the benefit zone as a result of the public improvements undertaken by the local government and financed in whole or in part with hospital benefit zone financing;

     (c) The total number of permanent jobs created as a result of the public improvements undertaken by the local government and financed in whole or in part with hospital benefit zone financing; and

     (d) The average wages and benefits received by all employees of businesses locating within the benefit zone as a result of the public improvements undertaken by the local government and financed in whole or in part with hospital benefit zone financing.

     (5) The department shall make a report available to the public and the legislature by June 1st of each year. The report shall include a list of public improvements undertaken by local governments and financed in whole or in part with hospital benefit zone financing, and it shall also include a summary of the information provided to the department by local governments under subsection (4) of this section.

     (6) The definitions in this subsection apply throughout this section unless the context clearly requires otherwise.

     (a) "Public improvement costs" has the same meaning as in RCW 39.100.010.

     (b) "Tax allocation revenues" has the same meaning as provided in RCW 39.100.010.

[2006 c 111 § 8.]

Effective date -- 2006 c 111: See RCW 39.100.900.