RCW 82.92.120
Transfer of project ownership.
(1) Transfer of investment project ownership does not terminate the deferral. The deferral is transferred subject to the successor meeting the eligibility requirements of this chapter.
(2) The transferor of an eligible project must notify the city and the department of such transfer. The city must certify to the department that the successor meets the requirements of the deferral. The transferor must provide the information necessary for the department to transfer the deferral. If the transferor fails to notify the city and the department, all deferred sales and use taxes are immediately due and payable. The department must assess interest at the rate provided for delinquent taxes and penalties retroactively to the date of deferral.
[ 2022 c 241 § 14.]
NOTES:
Tax preference performance statement—2022 c 241: See note following RCW 82.92.030.
Structure Revised Code of Washington
Chapter 82.92 - Tax Deferrals for Underdeveloped Urban Land Redevelopment.
82.92.020 - Requirements for governing authorities.
82.92.030 - Requirements for applicants.
82.92.040 - Conditional certification.
82.92.050 - Approval of applications—Appeals.
82.92.070 - Certificate of occupancy—Process after issuance.
82.92.080 - Annual report by conditional recipient—Annual tax performance report—Report by city.
82.92.090 - Application to department.