Bill > SB5409

This bill extends the sales and use tax deferral for historic automobile museums in Washington state. Specifically, it amends the existing law (RCW 82.32.580) to allow nonprofit organizations that operate historic automobile museums with at least 500 motor vehicles to apply for a deferral of state and local sales and use taxes on eligible projects, such as the construction of new structures and the acquisition of fixtures. The deferred taxes must be repaid over a 10-year period, starting in the 10th year after the project is completed, rather than the 5-year period in the existing law. The bill aims to increase the fiscal stability of these museums and strengthen the economic vitality of the communities in which they are located.