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Committee hears broad package giving counties new revenue tools and REIT flexibility
Summary
Senate Bill 6,294 would expand local revenue options — including new uses for REET 2, a county public utility tax option, a one‑tenth percent sales tax for children and family services, and standalone levies for veterans and mental‑health assistance. Proponents say counties need new tools; utilities, cannabis and retail groups raised distributional and market concerns.
Jeff Mitchell, staff for the committee, described SB 6,294 as an eight‑part approach to expand local fiscal flexibility. Key provisions include expanding allowable uses of certain real estate excise tax (REET) proceeds to allow nuisance abatement and rehabilitation of existing affordable housing; allowing cities (with voter approval) to impose an affordable‑housing REIT; authorizing counties to impose a public utility tax up to 3% (with a required 0.2% set‑aside for low‑income utility assistance); authorizing a new 0.01% local sales/use tax for services to assist children and families (child care, perinatal supports, before/after school programs); broadening the allowed uses of an existing housing sales tax to include rental assistance and rehabilitation of…
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