6430-S AMS HASE ROEJ 082

                

SSB 6430 - S AMD 578

By Senator Hasegawa

NOT ADOPTED 03/11/2014

    On page 2, line 12, after "program", strike "," and insert "((,))" 

 

    On page 2, line 12, after "jobs", insert "have increased in Washington state by ten percent"

 

    On page 2, line 14, after "development", strike ", have increased" and insert "((, have increased))"

 

On page 3, line 23, after "(3)" insert "(a)"

 

On page 3, line 28, insert "(b) The credit may not be assigned to persons domiciled outside of Washington state or for research and development conducted by persons outside of Washington state."

 

On page 4, line 23, after "including" insert "qualifying"

 

On page 4, line 34, insert "(d) "Qualifying wages" means wages for full time employees who perform research and development.  Any employee performing research and development who is hired after the effective date of this section must be a Washington resident."  

 

On page 5, line 33, after "program", strike "," and insert "((,))"

 

    On page 5, line 33, after "jobs", insert "have increased in Washington state by ten percent"

 

    On page 5, line 35, after "development", strike ", have increased" and insert "((, have increased))"

 

 

    Renumber the remaining subsections consecutively and correct any internal references accordingly.

 

 

    EFFECT:   Provides that if JLARC finds that there has been 10% increase of high tech R&D jobs in Washington, then JLARC will recommend extending the tax incentives. 

 

Provides that a credit cannot be assigned to persons domiciled outside of Washington or for persons conducting R&D outside of Washington. 

 

Provides that qualifying R&D expenditures include "qualifying wages" which are defined as full time persons performing R&D, and that employees performing R&D hired after the effective date of this act must be residents of Washington state.

 

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