ENGROSSED HOUSE BILL 2199

ByRepresentatives Orcutt, Fitzgibbon, Reed, Doglio, and Leavitt

AN ACT Relating to creating business and occupation and public utility tax exemptions for certain amounts received as the result of receipt, generation, purchase, sale, transfer, or retirement of allowances, offset credits, or price ceiling units under the climate commitment act; adding a new section to chapter 82.04 RCW; adding a new section to chapter 82.16 RCW; creating a new section; providing an effective date; and declaring an emergency.

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:

(1) This chapter does not apply to amounts received by a covered entity, opt-in entity, or entity that receives no-cost allowances, as defined in chapter 70A.65 RCW, from the receipt, generation, purchase, sale, transfer, or retirement of allowances, offset credits, or price ceiling units under chapter 70A.65 RCW.

(2) The provisions of RCW 82.32.805 and 82.32.808 do not apply to subsection (1) of this section.

NEW SECTION.  Sec. 2. A new section is added to chapter 82.16 RCW to read as follows:

(1) This chapter does not apply to amounts received by a covered entity, opt-in entity, or entity that receives no-cost allowances, as defined in chapter 70A.65 RCW, from the receipt, generation, purchase, sale, transfer, or retirement of allowances, offset credits, or price ceiling units under chapter 70A.65 RCW.

(2) The provisions of RCW 82.32.805 and 82.32.808 do not apply to subsection (1) of this section.

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