WSR 07-04-101



[ Filed February 6, 2007, 4:05 p.m. ]

Subject of Possible Rule Making: WAC 458-20-276 Tax incentives for biotechnology product and medical device manufacturers.

Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 82.32.300 and 82.01.060(2).

Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: The department is considering a new rule to explain the tax deferral program, contained in chapter 82.75 RCW, which applies to businesses engaged in biotechnology product or medical device manufacturing in Washington. Issues that would be addressed in such a rule are anticipated to include what purchases are eligible, the application and review process, the requirement of recipients to file an annual survey, and the circumstances under which payment of the deferred taxes is or is not required.

Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: None.

Process for Developing New Rule: Parties interested in this rule making may contact the individual listed below. The public may also participate by providing written comments throughout this rule making or giving oral testimony at the public meeting or public hearing.

Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication. Written comments may be submitted by mail, fax, or at the public meeting. Oral comments will be accepted at the public meeting. A preliminary draft of the proposed changes is available upon request. Written comments on and/or requests for copies of the rule may be directed to Allan C. Lau, Interpretations and Technical Advice Division, P.O. Box 47453, Olympia, WA 98504-47453, phone (360) 570-6134, fax (360) 586-5543.

Public Meeting Location: Capital Plaza Building, 4th Floor, Large Conference Room, 1025 Union Avenue S.E., Olympia, WA, on March 13, 2007, at 10:00 a.m.

Assistance for Persons with Disabilities: Contact Sandy Davis no later than ten days before the hearing date, TTY 1-800-451-7985 or (360) 725-7499.

February 6, 2007

Alan R. Lynn

Rules Coordinator

Washington State Code Reviser's Office