Loading chat...
WA SB5385
Bill
Status
Introduced
1/21/2025
Primary Sponsor
Mike Chapman
Click for details
AI Summary
- Expands the definition of "timberland" for real estate excise tax purposes to include land transferred or sold to governmental entities, provided the entity manages the land as designated forestland or classified timberland
- Governmental entities acquiring timberland qualify for the reduced 1.28% real estate excise tax rate instead of the graduated rates (up to 3%) that apply to other real property sales
- Requires governmental entities to comply with forest management requirements under RCW 84.33.140(13)(j) or 84.34.108(6)(m) to maintain timberland classification
- Amends RCW 82.45.060 to add a third qualifying category for timberland beyond the existing classifications under chapters 84.33 and 84.34 RCW
Legislative Description
Revised for 1st substitute: Amending the definition of timberland for purposes of determining the real estate excise tax for a governmental entity.
Last Action
By resolution, reintroduced and retained in present status.
1/12/2026
Committee Referrals
Ways & Means2/21/2025
Agriculture & Natural Resources1/21/2025
Full Bill Text
No bill text available