There is imposed an excise tax upon each sale of real property at the rate of one and twenty-eight one-hundredths percent of the selling price. Beginning July 1, 2013, and ending June 30, 2023, an amount equal to two percent of the proceeds of this tax must be deposited in the public works assistance account created in RCW
43.155.050, and an amount equal to four and one
-tenth percent must be deposited in the education legacy trust account created in RCW
83.100.230. Thereafter, an amount equal to six and one-tenth percent of the proceeds of this tax to the state treasurer must be deposited in the public works assistance account created in RCW
43.155.050. Except as otherwise provided in this section, an amount equal to one and six-tenths percent of the proceeds of this tax to the state treasurer must be deposited in the city-county assistance account created in RCW
43.08.290.
NOTES:
Intent—Effective dates—2013 2nd sp.s. c 9: See notes following RCW
28A.150.220.
Effective dates—2011 1st sp.s. c 50: See note following RCW
15.76.115.
Effective date—2011 1st sp.s. c 48: See note following RCW
39.35B.050.
Effective date—2005 c 450: "This act takes effect August 1, 2005." [
2005 c 450 § 4.]
Construction—Severability—Effective dates—1983 2nd ex.s. c 3: See notes following RCW
82.04.255.
Severability—Effective dates—1982 1st ex.s. c 35: See notes following RCW
82.08.020.
Purpose—Effective dates—Savings—Disposition of certain funds—Severability—1980 c 154: See notes following chapter digest.