1. There is imposed a sales and use tax, as the case may be, as authorized by Chapter 82.14 RCW, upon every taxable event, as defined in Chapter 82.14 RCW, occurring within the city of Bellevue. The tax shall be imposed upon and collected from those persons from whom the state sales tax or use tax is collected pursuant to Chapters 82.08 and 82.12 RCW.

2. The rate of the tax imposed by this section shall be 0.0073 percent of the selling price or value of the article used or such rate as RCW 82.14.540 may be amended from time to time.

3. The tax imposed under this section shall be deducted from the amount of tax otherwise required to be collected or paid to the Department of Revenue under Chapter 82.08 or 82.12 RCW (now or hereafter amended). Under RCW 82.13.540(3), the Department of Revenue will perform the collection of such taxes on behalf of the city of Bellevue at no cost to the city.

4. The Department of Revenue will calculate the maximum amount of tax distributions for the city of Bellevue based on the taxable retail sales in the city in state fiscal year 2019, and the tax imposed under this section will cease to be distributed to the city of Bellevue for the remainder of any state fiscal year in which the amount of tax exceeds the maximum amount of tax distributions for the city as properly calculated by the Department of Revenue. Distributions to the city of Bellevue that have ceased during a state fiscal year shall resume at the beginning of the next state fiscal year.

1. The city may use the moneys collected by the tax imposed under this section or bonds issued only for the following purposes:

2. The housing and services provided under this section may only be provided to persons whose income is at or below 60 percent of the median income of the city.

3. In determining the use of funds under this section, the city must consider the income of the individuals and families to be served, the leveraging of the resources made available under this section, and the housing needs within the city.

4. The finance and asset management director or designee is authorized to provide any necessary notice to the Department of Revenue to effectuate the tax enacted by this section and to execute, for and on behalf of the city of Bellevue, any necessary agreement with the Department of Revenue for the collection and administration of the tax enacted by this section.

5. The director of finance and asset management or designee must report annually to the Washington State Department of Commerce, in accordance with the department’s rules, on the collection and use of the revenue from the tax imposed under this section.

6. Under RCW 82.13.540(12), the tax imposed by this section will expire 20 years after the date on which the tax is first imposed. The director of finance and asset management or designee shall provide notice to the city council and the mayor of the expiration date of the tax each year beginning three years before the expiration date and shall also promptly notify the city council and mayor of any changes to the expiration date.