SENATE BILL REPORT
SB 5261
BYSenators Barr, Bauer, McDonald and McCaslin
Providing business and occupation deduction for payments under state contracts with associate development organizations.
Senate Committee on Ways & Means
Senate Hearing Date(s):February 16, 1987
Senate Staff:Stephen Rose (786-7715)
AS OF FEBRUARY 13, 1987
BACKGROUND:
The Department of Trade and Economic Development as part of their team Washington economic development approach, contracts with local economic development organizations, officially designated as associate development organizations, for site inventories and other crucial development information.
SUMMARY:
Monies received by associate development organizations from the State of Washington or any other public or quasi-public body, is deductible from the business and occupation tax base of these organizations.
Fiscal Note: requested