Washington SB5994 preserves timber tax distributions for school districts with recent levy failures.

Washington SB5994 amends the state's tax code to ensure that school districts with recent failures in their school district levy will continue to receive timber tax distributions. The bill specifies how these distributions should be calculated and allocated, ensuring that funds are directed towards debt service and capital projects. The county treasurer is responsible for making these distributions, with any excess revenue placed in a reserve status until the next calendar year.

Washington SB5994 preserves timber tax distributions for school districts with recent levy failures.

Washington SB5994 amends the state's tax code to ensure that school districts with recent failures in their school district levy will continue to receive timber tax distributions. The bill specifies how these distributions should be calculated and allocated, ensuring that funds are directed towards debt service and capital projects. The county treasurer is responsible for making these distributions, with any excess revenue placed in a reserve status until the next calendar year.