HB 1469 Summary

• Caps conveyance tax distributions to the land conservation fund at $7,600,000 or 10 percent of collected taxes, whichever is less, with excess amounts directed to wildfire prevention, control, and emergency response programs.

• Caps conveyance tax distributions to the rental housing trust fund at 50 percent of collected taxes (with an unspecified dollar amount limit to be determined).

• Caps conveyance tax distributions to the natural area reserve fund at $19,000,000 or 25 percent of collected taxes, whichever is less, with excess amounts directed to wildfire prevention, control, and emergency response programs.

• Establishes maximum distribution amounts to make general fund revenue forecasts more reliable and increase legislative oversight of agencies supported by non-general funds.

• Becomes effective July 1, 2015, and expires June 30, 2017, with conveyance tax law reverting to its prior form upon repeal.