H-4034.1          _______________________________________________

                                  HOUSE BILL 2698

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State of Washington              54th Legislature             1996 Regular Session

By Representatives Schoesler and Thompson

Read first time 01/16/96.  Referred to Committee on Finance.

Exempting federal small business innovation research program distributions from business and occupation tax.

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

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 federal small business innovation research program.

NEW SECTION. Sec. 2.  This act shall take effect July 1, 1996.

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