SENATE BILL REPORT

SB 6318

This analysis was prepared by non-partisan legislative staff for the use of legislative members in their deliberations. This analysis is not a part of the legislation nor does it constitute a statement of legislative intent.

As of February 7, 2020

Title: An act relating to extending the electric marine battery incentive.

Brief Description: Extending the electric marine battery incentive.

Sponsors: Senators Liias, Lovelett and Wilson, C.; by request of Office of the Governor.

Brief History:

Committee Activity: Transportation: 2/10/20.

Brief Summary of Bill

  • Extends the tax exemption for battery-powered electric marine propulsion systems from June 30, 2025, to June 30, 2035.

SENATE COMMITTEE ON TRANSPORTATION

Staff: Bryon Moore (786-7726)

Background: A retail sales and use tax exemption is available for new powertrains for vessels that are powered by battery-powered electric marine propulsion systems with continuous power greater than 15 kilowatts and for new vessels equipped with a battery-powered electric marine propulsion system with continuous power greater than 15 kilowatts.

Sellers can only make tax exempt sales if the buyer provides the seller with an exemption certification prescribed by the Department of Revenue.

At the end of each quarter, the state treasurer makes transfer from the Multimodal Transportation Account to the state general fund the amount that would otherwise have been deposited in the state general fund if not for this tax exemption.

The tax exemption for battery-powered electric marine propulsion systems expires June 30, 2025.

Summary of Bill: The tax exemption for battery-powered electric marine propulsion systems is extended to June 30, 2035.

Appropriation: None.

Fiscal Note: Requested on February 6, 2020.

Creates Committee/Commission/Task Force that includes Legislative members: No.

Effective Date: The bill takes effect on July 1, 2020.