RCW 82.89.050 — Requirements for recipients — Meaningful construction

(1) The recipient of a deferral certificate under RCW 82.89.040 must begin meaningful construction on an eligible investment project within two years of receiving a deferral certificate unless construction was delayed due to circumstances beyond the recipient's control. Lack of funding is not considered a circumstance beyond the recipient's control. (2) If the recipient does not begin meaningful construction on an eligible investment project within two years of receiving a deferral certificate, the deferral certificate issued under RCW 82.89.040 is invalid and taxes deferred under this chapter are due immediately. [ 2022 c 185 s 5 .] Notes: Tax preference performance automatic expiration exception — Tax preference performance statement — 2022 c 185: See notes following RCW 82.89.070 .