Bill > HB2528

This bill aims to standardize how cities that plan under the Growth Management Act (GMA), a state law governing land use and development, implement real estate excise taxes (REETs). Specifically, it amends existing law (RCW 82.46.035) to remove a requirement that cities planning under GMA must obtain voter approval for imposing this additional excise tax, which is a tax on the sale of real property. The bill clarifies that this tax, capped at 0.25% of the selling price, can be used for various capital projects, including infrastructure like streets and utilities, parks, airports, and importantly, facilities for those experiencing homelessness and affordable housing projects, with specific provisions for how these funds can be allocated and documented in a city's comprehensive plan. It also includes a provision that a city's authority to impose this tax can be temporarily suspended if the governor issues a notice of noncompliance with GMA requirements.

Budget and Finance

https://app.leg.wa.gov/billsummary?BillNumber=2528&Year=2025&Initiative=false