BILL REQ. #: S-3524.1
| State of Washington | 62nd Legislature | 2012 Regular Session |
Read first time 01/19/12. Referred to Committee on Economic Development, Trade & Innovation.
AN ACT Relating to the Washington manufacturing innovation and modernization extension service program; amending RCW 43.131.409 and 43.131.410; and adding a new section to chapter 82.04 RCW.
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:
In computing the tax imposed under this chapter, a credit is
allowed for participants in the Washington manufacturing innovation and
modernization extension service program created in RCW 43.338.020. The
credit allowed under this section is equal to fifty percent of the
value of a program participant's contributions to the manufacturing
innovation and modernization account created in RCW 43.338.030. If a
participant in the program does not meet the qualifications in RCW
43.338.020(2)(b)(iv), the participant must remit to the department the
value of any credits taken plus interest. The credit earned by a
participant in one calendar year may be carried over to be credited
against taxes incurred in subsequent calendar years. The annual
statewide credit available is limited to one million two hundred
twenty-five thousand dollars.
Sec. 2 RCW 43.131.409 and 2008 c 315 s 7 are each amended to read
as follows:
The Washington manufacturing innovation and modernization extension
service program under chapter 43.338 RCW shall be terminated June 30,
((2012)) 2017, as provided in RCW 43.131.410.
Sec. 3 RCW 43.131.410 and 2008 c 315 s 8 are each amended to read
as follows:
The following acts or parts of acts, as now existing or hereafter
amended, are each repealed, effective June 30, ((2013)) 2018:
(1) RCW 43.338.005 and 2008 c 315 s 1;
(2) RCW 43.338.010 and 2009 c 565 s 43 & 2008 c 315 s 2;
(3) RCW 43.338.020 and 2008 c 315 s 3;
(4) RCW 43.338.900 and 2008 c 315 s 4;
(5) RCW 43.338.030 and 2008 c 315 s 5; ((and))
(6) RCW 43.338.040 and 2008 c 315 s 6; and
(7) Section 1 of this act.