BILL REQ. #: S-1407.1
State of Washington | 62nd Legislature | 2011 Regular Session |
READ FIRST TIME 02/18/11.
AN ACT Relating to exempting certain manufacturing research and development activities from business and occupation taxation; adding a new section to chapter 82.04 RCW; providing an effective date; and declaring an emergency.
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:
During the first five years of production, this chapter does not
apply to any person with respect to the value of products manufactured
in Washington when:
(1) The product was developed as a result of research and
development, as defined in RCW 82.63.010, carried out at the University
of Washington or Washington State University; and
(2) The product is being manufactured pursuant to a licensing
agreement with the University of Washington or Washington State
University.
NEW SECTION. Sec. 2 This act is necessary for the immediate
preservation of the public peace, health, or safety, or support of the
state government and its existing public institutions, and takes effect
July 1, 2011.