Ordinance 3740-20 - Laserfiche WebLink

gm EVERETT ORDINANCE NO. 3740-20 WASHINGTON An ORDINANCE Imposing a Sales and Use Tax to Provide for Affordable and Supportive Housing; Creating the Affordable/Supportive Housing Sales Tax Credit Fund;Adding a new Chapter to Title 3 the City of Everett Municipal Code. WHEREAS, A. The 2019 Washington State Legislature passed Substitute House Bill 1406 that was signed into law as Chapter 338, Laws of 2109 (RCW 82.14.540); and B. Chapter 338, Laws of 2019, authorizes cities and counties to impose a sales and use tax to encourage investments in affordable and supportive housing; and C. The City Council adopted Resolution 7445 on October 30,2019,declaring the City's intent to adopt legislation to authorize the maximum capacity of the tax authorized in Chapter 338, Laws of 2019; and D. To collect a tax,a City must adopt an ordinance authorizing the tax within one year of the effective date of Substitute House Bill 1406, or July 28, 2020; and E. The City recognizes the need for affordable and supportive housing; NOW,THEREFORE,THE CITY OF EVERETT DOES ORDAIN: Section 1. Imposition of sales and use tax Pursuant to RCW 82.14.540, there is hereby imposed a sales and use tax, collectible from those persons who are taxable by the state pursuant to chapters 82.08 and 82.12 RCW upon the occurrence of any taxable event defined in such statutes within City of Everett and as permitted by RCW 82.14.540. The rate of such tax shall be the maximum rate permitted Cities under RCW 82.14.540. The tax imposed under this ordinance will be deducted from the amount of tax otherwise required to be collected or paid to the department of revenue under chapter 82.08 or 82.12 RCW. Section 2. Name of Fund There is hereby created a special revenue fund known as the Affordable/Supportive Housing Sales Tax Credit Fund 171. Section 3. Purpose of Fund The Affordable/Supportive Housing Sales Tax Credit Fund is created to provide investments in affordable