Establishes uniform rules for cities to implement real estate excise taxes for capital projects.

This bill creates uniformity for cities planning under the growth management act to implement real estate excise taxes. It allows cities to impose an additional excise tax on real property sales for capital projects, including streets, roads, parks, and airports. Funds must be used for specified capital projects, and cities must document future funding for certain projects. The bill also outlines exceptions for certain uses of the tax revenue.

Establishes uniform rules for cities to implement real estate excise taxes for capital projects.

This bill creates uniformity for cities planning under the growth management act to implement real estate excise taxes. It allows cities to impose an additional excise tax on real property sales for capital projects, including streets, roads, parks, and airports. Funds must be used for specified capital projects, and cities must document future funding for certain projects. The bill also outlines exceptions for certain uses of the tax revenue.