SENATE BILL REPORT

SB 5261

BYSenators Barr, Bauer, McDonald and McCaslin

Providing business and occupation deduction for payments under state contracts with associate development organizations.

Senate Committee on Ways & Means

Senate Hearing Date(s):February 16, 1987

Senate Staff:Stephen Rose (786-7715)

AS OF FEBRUARY 13, 1987

BACKGROUND:

The Department of Trade and Economic Development as part of their team Washington economic development approach, contracts with local economic development organizations, officially designated as associate development organizations, for site inventories and other crucial development information.

SUMMARY:

Monies received by associate development organizations from the State of Washington or any other public or quasi-public body, is deductible from the business and occupation tax base of these organizations.

Fiscal Note:      requested