Marine Jobs Bill did not receive a hearing this session
OLYMPIA, Wa, March 3, 2011 -- HB 1499 and SB1572 which would have helped boost marine industry jobs and the economy and Washington State did not receive a hearing in the Ways and Means Committee in either the Senate of the House this session. If passed the bill would have put a tax cap on vessels valued at $300,000 or greater and given out of state boaters the option to purchase a renewable yearly cruising permit the same as a resident at ½ of 1% the value of the vessel.
The bills faced criticism about being a tax break for the wealthy and the fear that ultimately the state would lose money. That combined with a poorly written and researched fiscal note, we did not get the opportunity to testify at a Ways and Means committee meeting.
NYBA and the NMTA commissioned Hebert Research in January 2011 to study the economic impact of recreational boating on WA State. Preliminary findings report much of what we already assumed that yachts provide tangible value to the community by creating living-wage jobs, and taxable revenue for the state. We will use this ammunition as we continue to fight for the passage of this important legislation.
