Bill > SB6132

This bill makes a narrow modification to the indebtedness limits for certain inland port districts in Washington State, allowing them to borrow an additional 0.25% of their taxable property value without voter approval, provided they meet specific criteria related to creating an "increment area" (a designated zone for development under chapter 39.114 RCW), having a taxable property value between $6 billion and $7 billion, and the increment area's taxable value being less than $150 million. The purpose of this increased borrowing authority is to ensure these port districts remain eligible for federal funding for crucial public infrastructure projects like rail and power improvements, and any funds borrowed under this new provision must be used for public improvements within that increment area. This change amends existing law (RCW 53.36.030) which sets limits on how much debt port districts can incur.

Government Affairs

https://app.leg.wa.gov/billsummary?BillNumber=6132&Year=2025&Initiative=false