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INFORMATIONAL MEMO <br />Page 4 <br />Department of Revenue as a percentage of Tukwila's sales tax that, prior to this bill, went to the <br />State. <br />Tukwila's maximum yearly revenue from HB 1406 is $165,998.21. Tukwila will keep .0073% of <br />the sales tax up to the maximum amount. Once the maximum award is reached, distribution of <br />the tax will stop for the remainder of the fiscal year. <br />RECOMMENDATION <br />Administration and staff recommend keeping 30% of the yearly revenue from HB 1406 to be <br />used toward rental assistance while pooling the rest of the funds with participating SKHHP <br />cities. If there are funds that have not been expended for rental assistance by the end of each <br />year, staff recommends pooling this revenue with SKHHP. This will allow the City to assist with <br />affordable housing projects in the region as well as assist Tukwila residents in need. <br />Staff recommends forwarding this item to the Council of the Whole meeting on March 23, 2020 <br />and Regular Meeting on April 6, 2020. <br />ATTACHMENTS <br />A. House Bill 1406 <br />B. SKHHP Resolution No. 2019-06 <br />C. Notice from Department of Revenue <br />D. Resolution <br />42 <br />