Washington Administrative Code Title 458 (Department of Revenue)
WAC 458-16-245
Student Loan Agencies
No agency filings affecting this section since 2003 (1) Introduction. This section explains the property tax exemption available under the provisions of RCW 84.36.030 (6) to a nonprofit organization, association, or corporation that is exempt from federal income taxation and either guarantees student loans or issues debt to provide or acquire student loans. (2) Definitions. For purposes of this section, the following definitions apply:
# (a)
"Student loan agency" means a nonprofit organization or association that is exempt from federal income tax under section 501 (c)(3) of the Federal Internal Revenue Code of 1954 (as amended) and: (i) Is a guarantee agency under the federal guaranteed student loan program; or (ii) Issues debt to provide or acquire student loans.
# (b)
"Property" means real or personal property owned by a nonprofit organization, association, or corporation that qualifies as a "student loan agency."
# (c)
"Commercial" refers to an activity or enterprise that has profit making as its primary purpose. (3) Exemption. (a) Property owned and used by a nonprofit organization, association, or corporation that is a guarantee agency under the federal guaranteed student loan program or that issues debt to provide or acquire student loans is exempt from taxation. (b) If any portion of the organization's, association's, or corporation's property is used for a commercial rather than an exempt purpose that portion must be segregated and taxed. (4) Additional requirements. Any organization, association, or corporation that applies for a property tax exemption under this section must also comply with the provisions of WAC 458-16-165 that explains the additional conditions and requirements necessary to obtain a property tax exemption pursuant to RCW 84.36.030 . [Statutory Authority: RCW 84.08.010 , 84.08.070 and chapter 84.36 RCW. WSR 94-07-008, § 458-16-245, filed 3/3/94, effective 4/3/94.]
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In this chapter (32 sections)
- 458-16-080 · Improvements to Single Family…
- 458-16-100 · Property Tax Exemptions, Generally, Rules of Construction
- 458-16-110 · Initial Application and Renewal Declaration
- 458-16-115 · Personal Property Exemptions for Household Goods,…
- 458-16-120 · Appeals
- 458-16-130 · Change in Taxable Status of Real Property
- 458-16-150 · Cessation of Use—Taxes Collectible for Prior Years
- 458-16-165 · Conditions Under Which Nonprofit Organizations,…
- 458-16-180 · Public Burying Grounds Or Cemeteries
- 458-16-190 · Churches, Parsonages and Convents
- 458-16-200 · Land Upon Which a Church Or Parsonage Shall Be Built
- 458-16-210 · Nonprofit Organizations, Associations, Or Corporations…
- 458-16-215 · Nonprofit Organizations That Solicit, Collect, and…
- 458-16-220 · Church Camps
- 458-16-230 · Character Building Organizations
- 458-16-240 · Veterans Organizations
- 458-16-245 · Student Loan Agencies
- 458-16-260 · Nonprofit Child Day Care Centers, Free Libraries,…
- 458-16-266 · Homeownership Development
- 458-16-270 · Schools and Colleges
- 458-16-280 · Art, Scientific, and Historical Collections
- 458-16-282 · Musical, Dance, Artistic, Dramatic and Literary…
- 458-16-284 · Fire Companies
- 458-16-286 · Humane Societies
- 458-16-290 · Nature Conservancy Lands
- 458-16-300 · Public Meeting Hall—Public Meeting Place—Community Meeting…
- 458-16-310 · Community Celebration Facilities
- 458-16-320 · Emergency Or Transitional Housing
- 458-16-330 · Sheltered Workshops for Persons with Disabilities
- 458-16-340 · Multipurpose Senior Citizen Centers
- 458-16-560 · Housing for Qualifying Households
- 458-16-1000 · Property Belonging to Federally Recognized Indian…