H-3578.1  _______________________________________________

                          HOUSE BILL 2666

          _______________________________________________

State of Washington      57th Legislature     2002 Regular Session

By Representatives Veloria, Dunn, Bush, Roach, Casada, Anderson and Santos

Read first time 01/23/2002.  Referred to Committee on Trade & Economic Development.

Exempting small business innovative research awards from business and occupation tax.

    AN ACT Relating to small business innovative 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 (114 Stat. 2763A; 15 U.S.C. Sec. 638 et seq.).

NEW SECTION. Sec. 2.  This act takes effect July 1, 2002.

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