WashingtonEligible port districts may borrow extra money for public improvements
Starting June 11, 2026, qualifying port districts may borrow extra money without voter approval to fund public improvements.
What it does
Qualifying port districts may borrow up to an additional 0.25% of their taxable property value without voter approval. They must meet limits tied to an increment area and use the money for public improvements.
Argument forQualifying port districts could fund public improvements with additional borrowing without waiting for voter approval.
Argument againstResidents may have less say over borrowing when qualifying port districts can take on this additional debt without voter approval.
More detail
A port district that meets the requirements may borrow money or issue general obligation bonds up to an additional 0.25% of its taxable property value without voter approval. This applies only to port districts that meet all the stated requirements for the increment area and assessed values. The district must create an increment area under chapter 39.114 RCW. In the year it adopts the resolution or ordinance creating the area, the district's estimated taxable assessed value must be between $6 billion and $7 billion, and the area's estimated value must be less than $150 million. The borrowing must fund public improvements under chapter 39.114 RCW. The law takes effect June 11, 2026.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Mar 20Effective date 6/11/2026.Latest
- Mar 20Chapter 121, 2026 Laws.Major
- Mar 20Governor Bob Ferguson signed.Became Law
- Mar 12Delivered to Governor.To Governor
- Mar 11Speaker signed.Passed House
- Mar 9President signed.Passed Senate
- Mar 6Third reading, passed; yeas, 95; nays, 0; absent, 0; excused, 3.Minor
- Vote recorded 3rd Reading & Final Passage (#5). Result: pass.Lower
- Mar 6Rules suspended. Placed on Third Reading.Minor
- Mar 4Rules Committee relieved of further consideration. Placed on second reading.Minor
- Feb 26Referred to Rules 2 Review.Minor
- Feb 26Committee relieved of further consideration.
- Feb 25Referred to Transportation.Minor
- Feb 25LG - Majority; do pass.Minor
- Feb 25Executive action taken in the House Committee on Local Government at 8:00 AM.
- Feb 24Public hearing in the House Committee on Local Government at 10:30 AM.
- Feb 16First reading, referred to Local Government.Minor
- Feb 11Third reading, passed; yeas, 49; nays, 0; absent, 0; excused, 0.Minor
- Vote recorded 3rd Reading & Final Passage (#5). Result: pass.Upper
- Feb 11Rules suspended. Placed on Third Reading.Minor
- Feb 6Placed on second reading consent calendar.Minor
- Jan 30Passed to Rules Committee for second reading.
- Jan 29LGV - Majority; do pass.Minor
- Jan 29Executive action taken in the Senate Committee on Local Government at 1:30 PM.
- Jan 22Public hearing in the Senate Committee on Local Government at 1:30 PM.
- Jan 14First reading, referred to Local Government.Introduced
Transportation