Laserfiche WebLink
i <br /> I. <br /> requirement applies beginning January 1, 2022, which is the fifth <br /> calendar year after the calendar year in which the sponsoring local <br /> government begins allocating local excise tax allocation revenues <br /> under RCW 39.102.110. <br /> 2) The LIFT Tax shall be distributed again, should it cease to be distributed <br /> for any reason provided in (c) of this subsection 3.4, at the beginning of <br /> • <br /> July 1st,the next State fiscal year, subject to the restrictions in <br /> RCW 82.14.475. <br /> 3) Any revenue generated by the LIFT Tax in excess of the amounts specified <br /> in (1)(c) of this subsection 3.4 shall belong to the State of Washington. <br /> 4) In accordance with RCW 82.14.475 (11), if the City fails to comply with <br /> RCW 39.102.140, no tax will be distributed in the subsequent State fiscal <br /> year until such time as the City complies and the Department calculates <br /> • the state contribution amount for such State's fiscal year. <br /> 5) In accordance with RCW 82.14.475(16), the LIFT Tax shall cease to be <br /> imposed if the City fails to issue indebtedness pursuant to RCW <br /> 39.102.150, or fails to commence construction on public improvements, <br /> by June 30, 2022, which is the fifth fiscal year in which the LIFT Tax is <br /> imposed. <br /> Section 4. Severability. Should any section, subsection,paragraph, sentence, clause, or • • <br /> phrase of this chapter, or its application to any person or situation,be declared unconstitutional <br /> or invalid for any reason, such decision shall not affect the validity of the remaining portions of <br /> 5 <br />