S-4315.1  _______________________________________________

 

                         SENATE BILL 6574

          _______________________________________________

 

State of Washington      54th Legislature     1996 Regular Session

 

By Senators Owen, Sheldon, Finkbeiner, Moyer and Rasmussen

 

Read first time 01/18/96.  Referred to Committee on Ways & Means.

 

Allowing public utility tax credits for weatherization and energy assistance programs.



    AN ACT Relating to public utility tax credits for weatherization and energy assistance programs; adding a new section to chapter 82.16 RCW; and providing an effective date.

 

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

 

    NEW SECTION.  Sec. 1.  A new section is added to chapter 82.16 RCW to read as follows:

    A light and power business or gas distribution business shall be allowed a credit against the tax imposed under this chapter for grants for low-income energy-related programs to nonprofit organizations that had a contractual agreement with the department of community, trade, and economic development on October 1, 1993, to provide low-income energy-related programs.  The credit authorized in this section is allowed only to the extent that the grants in the year for low-income energy-related programs are greater than the grants made by the business in calendar year 1995 for low-income energy-related programs.  No credit for grants to a nonprofit organization may exceed forty percent of the moneys allotted to the organization in federal fiscal year 1994 under the department of community, trade, and economic development low-income home energy assistance program and United States department of energy programs.  No credit may be carried over to subsequent tax years.

    As used in this section, "low-income energy-related programs" means weatherization and energy assistance programs, including residential energy conservation and related repair, consumer education, and assistance in the payment of heating bills, for low-income households.

 

    NEW SECTION.  Sec. 2.  This act shall take effect July 1, 1996.

 


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