These documents are currently being revised to incorporate the changes made during the 2024 Legislative Session. Please consult the Sections Affected Table for changes made during the 2024 Legislative Session.
Requirements for recipients—Meaningful construction.
(1) The recipient of a deferral certificate under RCW
82.89.040 must begin meaningful construction on an eligible investment project within two years of receiving a deferral certificate unless construction was delayed due to circumstances beyond the recipient's control. Lack of funding is not considered a circumstance beyond the recipient's control.
(2) If the recipient does not begin meaningful construction on an eligible investment project within two years of receiving a deferral certificate, the deferral certificate issued under RCW
82.89.040 is invalid and taxes deferred under this chapter are due immediately.
NOTES:
Tax preference performance automatic expiration exception—Tax preference performance statement—2022 c 185: See notes following RCW
82.89.070.