BILL REQ. #:  S-0657.1 

Read first time 01/24/13.   Referred to Committee on Trade & Economic Development.

     AN ACT Relating to exempting certain manufacturing research and development activities from business and occupation taxation; adding a new section to chapter 82.04 RCW; providing an effective date; and declaring an emergency.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION.  Sec. 1   A new section is added to chapter 82.04 RCW to read as follows:
     During the first five years of production, this chapter does not apply to any person with respect to the value of products manufactured in Washington when:
     (1) The product was developed as a result of research and development, as defined in RCW 82.63.010, carried out at the University of Washington or Washington State University; and
     (2) The product is being manufactured pursuant to a licensing agreement with the University of Washington or Washington State University.

NEW SECTION.  Sec. 2   This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and takes effect July 1, 2013.