Bill > HB1758

This bill modifies the definition of "inflation rate" in the context of aquatic land leases by changing how the rate is calculated. Specifically, the bill replaces the previous reference to the "all commodity producer price index" with the "Seattle area consumer price index for all urban consumers (CPI-U)" as compiled by the Bureau of Labor Statistics of the U.S. Department of Commerce. The change means that when calculating inflation for the purpose of adjusting aquatic land lease rates, the state will now use the CPI-U for the Seattle area instead of the previous price index. This modification provides a more localized and standardized method for tracking inflation, which could impact how rental rates are determined for state-owned aquatic lands such as tidelands, shorelands, and navigable water beds. If the chosen index is no longer published, the bill allows the department to designate a comparable substitute index by rule, ensuring continuity in inflation calculations.

Agriculture and Natural Resources

https://app.leg.wa.gov/billsummary?BillNumber=1758&Year=2025&Initiative=false