5529 AMS DOUM WILS 067

SB 5529 - S AMD 367

By Senator Doumit

4/14/03 NOT ADOPTED

On page 1, after line 10, strike all material down through line 12 on page 2 and insert the following:

"(2) The credit is equal to the greater of the amount of qualified research and development expenditures of a person or eighty percent of amounts received by a person other than a public educational or research institution in compensation for the conduct of qualified research and development, multiplied by ((the rate provided in RCW 82.04.260(3))) 0.242 percent in the case of a nonprofit corporation or nonprofit association engaging within this state in research and development, and ((the rate provided in RCW 82.04.290(2))) 0.75 percent for every other person.

 (3) Any person entitled to the credit provided in subsection (2) of this section as a result of qualified research and development conducted under contract may assign all or any portion of the credit to the person contracting for the performance of the qualified research and development.

(4) The credit, including any credit assigned to a person under subsection (3) of this section, shall be taken against taxes due for the same calendar year in which the qualified research and development expenditures are incurred. The credit, including any credit assigned to a person under subsection (3) of this section, for each calendar year shall not exceed the lesser of ((two)) one million dollars or the amount of tax otherwise due under this chapter for the calendar year."

On page 3, after line 33, insert the following:

NEW SECTION. Sec. 2. The sum of six million twenty-six thousand nine hundred ten dollars, for fiscal year 2004 and six million twenty-six thousand nine hundred ten dollars for fiscal year 2005, or so much thereof as may be necessary, is appropriated from the general fund to the department of community, trade, and economic development, for distribution on January 1, 2004, for the fiscal year 2004 appropriation, and January 1, 2005, for the fiscal year 2005 appropriation, to the following counties in the amounts designated for criminal justice purposes:

FY 2004FY 2005

Adams$196,570 $196,570

Asotin$213,123 $213,123

Benton$191,877 $191,877

Chelan$155,676 $155,676

Columbia$656,051 $656,051

Douglas$212,195 $212,195

Ferry$312,419 $312,419

Franklin$120,156 $120,156

Garfield$763,086 $763,086

Klickitat$178,807 $178,807

Lincoln$251,339 $251,339

Mason$533,916 $533,916

Okanogan$228,148 $228,148

Pacific$123,732 $123,732

Pend Oreille$307,822 $307,822

Skamania$241,793 $241,793

Stevens$429,953 $429,953

Wahkiakum$462,948 $462,948

Walla Walla$144,090 $144,090

Yakima$303,209 $303,209

NEW SECTION. Sec. 3. This act takes effect January 1, 2004."

SB 5529 - S AMD

By Senator ....

On page 1, on line 2 of the title, after "credit;", strike the remainder of the title and insert "amending RCW 82.04.4452 and 82.14.310; making appropriations; and providing effective dates."

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EFFECT: Reduces the credit by 50% beginning in calendar year 2004 and redirects the available revenues to various counties for criminal justice.