WA HB2716

Light and power businesses and gas distribution businesses may claim a tax credit equal to 50% of qualifying contributions and billing discounts provided for low-income energy assistance, but only if contributions/discounts exceed 125% of fiscal year 2000 levels

Total statewide tax credits capped at $2,500,000 per fiscal year, with each utility's base credit calculated proportionally based on grants received from the Department of Commerce

Credits must be claimed in the fiscal year the assistance is provided, cannot exceed the utility's tax liability, and unused credits expire with no refunds available

Joint Legislative Audit and Review Committee required to review the tax preference in 2030 to evaluate whether it increased energy assistance beyond existing programs and supported low-income household access to assistance funds

Effective date is July 1, 2026, with initial implementation timeline requiring Department of Commerce reporting and credit allocation within 12 weeks of May 8, 2027