Washington Authorizes Certain Tax Increment Financing Port District Indebtedness

The Washington Governor signed a law that includes authorizing port districts that have established a tax increment financing area to contract indebtedness or borrow money for district purposes and issue general obligation bonds not exceeding an additional 0.25 percent of the value of the taxable property in the district without authorization by the voters, under certain circumstances. The law takes effect 90 days after final adjournment of the legislative session. [S.B. 6132, enacted 03/20/26]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.