6430-S AMS HASE ROEJ 090

SSB 6430 - S AMD TO S-4990.3 677

By Senator Hasegawa

NOT ADOPTED 03/11/2014

           On page 1, line 29, after "programs" strike "," and insert "((,))"

    On page 1, line 29, after "jobs" insert "have increased in Washington state by ten percent"

    On page 2, line 1, after "development" strike ", have increased" and insert "((, have increased))"

    On page 3, line 7, after "(3)" insert "(a)"

    On page 3, beginning on line 12, insert "(b) The credit may not be assigned to persons domiciled outside of Washington state or for research and development conducted by persons outside of Washington state."

    On page 4, line 6, after "including" insert "qualifying"

    On page 4, beginning on line 17, insert "(d) "Qualifying wages" means wages for full time employees who perform research and development.  Any employee performing research and development who is hired after the effective date of this section must be a Washington resident."

     Renumber the remaining sections consecutively and correct any internal references accordingly.

EFFECT:    Provides that if JLARC finds that there has been a 10% increase of high tech R&D jobs in Washington, then JLARC will recommend extending the tax incentives.

Provides that a credit cannot be assigned to persons domiciled outside of Washington or for persons conducting R&D outside of Washington.

Provides that qualifying R&D expenditures include "qualifying wages" which are defined as full time persons performing R&D, and that employees performing R&D hired after the effective date of this act must be residents of Washington state.

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