In 2015, the Washington State Legislature passed SB5987 which created the Puget Sound Taxpayer Accountability Account in the state treasury as a part of transportation funding legislation. The account will be funded from a sales and use tax offset fee of 3.25% of total payments made by Sound Transit on the cost of construction projects from “Sound Transit 3” as approved by voters in 2016. State law requires Sound Transit to pay the fee until $518 million in payments have been made to the account.
Pierce County Pierce County Finance Department seeks information from interested parties concerning options for how to most effectively expend these funds.
It is important that interested parties carefully consider how to use these funds because both the timing and amount received are uncertain due to the dependence on the Sound Transit 3 construction project schedule.