There is hereby established a special revenue fund for the city of Bonney Lake, to be known as the "affordable housing sales tax fund," into which shall be deposited all monies received for affordable and supportive housing imposed by this chapter as authorized by RCW 82.14.540.
(Ord. 1636 § 1, 2019)
There is imposed a sales and use tax for affordable and supportive housing as authorized by RCW 82.14.540 upon every taxable event occurring within the city as defined in RCW 82.14.020.
(Ord. 1636 § 1, 2019)
The rate of tax imposed by BLMC § 3.32.020 shall be 0.0073 percent of the selling price in the case of a sales tax, or value of the article used in the case of a use tax. The tax imposed under this section shall be deducted from the amount of tax otherwise required to be collected or paid to the Department of Revenue under Chapter 82.08 or 82.12 RCW.
(Ord. 1636 § 1, 2019)
Proceeds from the sales and use tax for affordable and supportive housing imposed by this chapter shall be used only for the purposes provided in RCW 82.14.540(6). The city may enter into an interlocal agreement with one or more counties, cities, or public housing authorities in accordance with Chapter 39.34 RCW and RCW 82.14.540(10).
(Ord. 1636 § 1, 2019)
The tax imposed under this chapter shall expire 20 years after the date on which the tax is first imposed.
(Ord. 1636 § 1, 2019)