HB 2274 - DIGEST

     Provides that a person who owns and operates an industrial facility is allowed to defer taxes due under chapters 82.08, 82.12, and 82.14 RCW on sales or charges made for tangible personal property consumed and/or for labor and services rendered in respect to the construction or installation of electrical generating equipment or facilities necessary to increase production at the industrial facility to levels prior to October 1, 2000, subject to the requirements of this act.

     Provides that a person who owns and operates an industrial facility may defer taxes due under chapter 82.04 RCW on sales of electricity to the Bonneville power administration or to a light and power business taxable under chapter 82.16 RCW if the sale occurred after October 1, 2000, and before the earlier of October 1, 2003, or the date the production at the industrial facility reaches levels of production prior to October 1, 2000.