HB 2089.E - DIGEST

(AS OF HOUSE 2ND READING 4/13/95)

     Revises the state current policy of applying its sales and use taxes to machinery, equipment, and installation labor used in manufacturing, research and development, and other activities.

     Provides tax incentives to entities making a commitment to sites and operations in the state.

     Requires the department of revenue to perform an assessment of the results of the tax exemptions for a report by September 1, 1998.

     Declares that the state property tax levy for collection in 1996 shall not exceed ninety percent of the amount that could be levied under the law in effect on January 1, 1995.

     Decreases the business and occupation tax on various business operations.

     Revises provisions for tax exemptions for designated entities and activities.

     Provides for tax credits for job training endeavors.

     Provides tax incentives for construction of housing for youth in crisis.

     Clarifies the application of retail sales taxes on clearing of trees and brush near electric utility lines.

     Repeals RCW 82.61.020, 82.61.040, 82.63.040, 82.63.050, and 82.04.2201.