6806-S AMH ORCU MITC 273

SSB 6806 - H AMD 1565

By Representative Orcutt

WITHDRAWN 3/12/2008

   Strike everything after the enacting clause and insert the following:

   "NEW SECTION. Sec. 1. A new section is added to chapter 82.04 RCW to read as follows:

   (1) In computing the tax imposed under this chapter, a credit is allowed for all property taxes and leasehold excise taxes paid during the calendar year on: (a) buildings, machinery, equipment, and other personal property that are used primarily for the operation of an anaerobic digester; (b) the land upon which the property described in (a) of this subsection is located; and (c) land that is reasonably necessary in the operation of an anaerobic digester.

   (2) Subject to subsection (4) of this section, a person may take the credit under this section for property taxes and leasehold excise taxes imposed for the six calendar years beginning with the calendar year following the year in which the facility or the addition to the existing facility becomes operational. The taxes must be paid before credit is taken under this section.

   (3) A person taking the credit under this section is subject to all the requirements of chapter 82.32 RCW. A credit earned during one calendar year may be carried over to be credited against taxes incurred in subsequent calendar years. Credits carried over must be applied to tax liability before new credits. No refunds may be granted for credits under this section.

   (4) Credits may not be claimed under this section for property taxes and leasehold excise taxes collected in 2019 and thereafter.

   (5) For the purposes of this section, "anaerobic digester" has the same meaning as provided in RCW 82.08.900.

   NEW SECTION. Sec. 2. This act takes effect July 1,2008."

Correct the title

EFFECT: Converts the property tax exemption and leasehold excise tax exemption for anaerobic digesters into an equivalent business and occupation tax credit.