S-0288.1  _______________________________________________

                         SENATE BILL 5591

          _______________________________________________

State of Washington      55th Legislature     1997 Regular Session

By Senators Sheldon, Kohl, Wojahn, Goings, Jacobsen, Spanel, Fairley, McAuliffe, Bauer and Rasmussen

Read first time 02/03/97.  Referred to Committee on Ways & Means.

Exempting federal 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 federal small business innovation research program.

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