H-3517.1          _______________________________________________

                                  HOUSE BILL 2509

                  _______________________________________________

State of Washington              52nd Legislature             1992 Regular Session

By Representatives Carlson, Sheldon, Bowman, Silver, Morris, Brumsickle, Kremen, Horn, Van Luven, Morton, May, Wynne, D. Sommers, Haugen, Paris, Broback, Wood, Mitchell, Forner and P. Johnson

Read first time 01/20/92.  Referred to Committee on Revenue.Exempting small business innovation research program distributions from business and occupation tax.

     AN ACT Relating to small business innovation research awards; and adding a new section to chapter 82.04 RCW.

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:

     This chapter does not apply to federal funds expended for research and technology distributed to small businesses under the small business innovation research program.