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.