HB 1004 increases Washington's personal property tax exemption from $15,000 to $50,000 of true and fair value for individuals. The bill requires persons claiming the exemption to attest under penalty of perjury that their taxable personal property is below the $50,000 threshold and that they are claiming only one exemption statewide per calendar year. The exemption continues to exclude private motor vehicles and mobile homes. The bill's effective date is contingent on voter approval of a proposed constitutional amendment at the next general election.