RCW 82.94.040
Requirements for recipients—Meaningful construction.
(1) The recipient of a deferral certificate under RCW 82.94.030 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 82.94.030 is invalid and taxes deferred under this chapter are due immediately.
[ 2022 c 257 § 105.]
Structure Revised Code of Washington
Chapter 82.94 - Tax Deferrals for Manufacturing and Research and Development.
82.94.030 - Tax deferral certificates.
82.94.040 - Requirements for recipients—Meaningful construction.
82.94.050 - Annual tax preference performance report—Repayment of deferred taxes.
82.94.060 - List of qualifying counties.
82.94.070 - Conditions for lessors.
82.94.080 - Applicability of general administrative provisions.
82.94.090 - Applications, reports, and information subject to disclosure.