BILL REQ. #: S-4019.1

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SECOND SUBSTITUTE SENATE BILL 5732
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State of Washington

62nd Legislature

2012 Regular Session

By Senate Economic Development, Trade & Innovation (originally sponsored by Senators Chase and Kastama)

READ FIRST TIME 01/30/12.

AN ACT Relating to exempting certain manufacturing research and development activities from business and occupation taxation; adding a new section to chapter 82.04 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 82.04 RCW to read as follows:
     During the first five years of production, this chapter does not apply to any person with respect to the value of products manufactured in Washington when:
     (1) The product was developed as a result of research and development, as defined in RCW 82.63.010, carried out at the University of Washington or Washington State University; and
     (2) The product is being manufactured pursuant to a licensing agreement with the University of Washington or Washington State University.

NEW SECTION. Sec. 2 This act takes effect July 1, 2012.

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