L&I will host hearings later this month to allow public comment on the fee increases. The first hearing is scheduled for 4 p.m. May 21 at L&I headquarters, 7273 Linderson Way S.W., Tumwater, WA.
Builders and contractors, such as those who belong to the Building Industry Association of Washington, are not fighting the fees, whose costs likely will be borne by homebuyers. The BIAW instead is concentrating on trying to get voters to correct a new state law they feel gives Boeing an unfair tax break.
The BIAW has filed a referendum with the Secretary of State to overturn House Bill 2901, which the BIAW says lowered unemployment tax rates for Boeing by $16 million over the next three years, while increasing tax rates on homebuilders and small businesses by $30 million. Homebuilders, however, traditionally cost the state more than they pay in to the system.
Joining the BIAW in its fight are the National Federation of Independent Business and other critics. If they succeed in gathering 100,000 valid voter signatures by July 5, the issue will be placed on the state ballot. A yes vote would uphold the law while its defeat would overturn the new legislation.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
