Bill > SB5656

This bill modifies the definition of "inflation rate" for aquatic leases by updating the method of calculating the inflation rate. Previously, the definition referenced the "all commodity producer price index" from the Bureau of Labor Statistics, which is now being replaced with the consumer price index for all urban consumers specific to the Seattle metropolitan area, as calculated by the United States Bureau of Labor Statistics. The change provides a more localized and current method of tracking inflation for state-owned aquatic lands. The bill amends RCW 79.105.060, which defines various terms related to aquatic lands, and specifically updates the definition in subsection (7) to use the Seattle metropolitan area's consumer price index as the standard for measuring inflation. This modification will impact how rent and other financial calculations are made for leases involving state-owned aquatic lands, ensuring that the inflation rate more accurately reflects local economic conditions.

Agriculture and Natural Resources

https://app.leg.wa.gov/billsummary?BillNumber=5656&Year=2025&Initiative=false