S-4697               _______________________________________________

 

                                                   SENATE BILL NO. 6844

                        _______________________________________________

 

State of Washington                               51st Legislature                              1990 Regular Session

 

By Senators Benitz and Hansen

 

 

Read first time 1/30/90 and referred to Committee on  Energy & Utilities.

 

 


AN ACT Relating to the public utility tax; adding a new section to chapter 82.16 RCW; creating a new section; and providing an expiration date.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

 

          NEW SECTION.  Sec. 1.     The legislature finds that with rapid economic growth, the state is facing an impending energy supply crisis, and that publicly owned and investor-owned electric utilities need additional incentives to begin developing new generating resources.  The legislature further finds that with the long lead times associated with new sources of electricity generation, the state must begin providing incentives now so as to avoid an energy supply crisis in several years.

 

          NEW SECTION.  Sec. 2.  A new section is added to chapter 82.16 RCW to read as follows:

          In computing tax under this chapter there shall be deducted from the gross income those amounts expended on construction of new electrical generation facilities located within the state on which construction commenced on or after July 1, 1990.

 

          NEW SECTION.  Sec. 3.     This act shall expire June 30, 1993.