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WA SB5216
Bill
Status
1/13/2025
Primary Sponsor
Sharon Shewmake
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AI Summary
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Creates a tax credit program allowing light and power businesses with renewable energy projects (wind, solar, or energy storage facilities constructed after the act's effective date) to receive credits worth 75% of cash contributions made to school districts or nonprofits in communities hosting the projects
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Caps total statewide credits at $5,000,000 per calendar year, with individual businesses limited to $250,000 in credits annually
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Requires businesses to apply to the Department of Revenue between January 1st and July 1st, with contributions due to recipients by October 1st of that year; applications approved on first-come, first-served basis within 45 days
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Credits may be claimed against business and occupation taxes (Chapter 82.04 RCW) and public utility taxes (Chapter 82.16 RCW) for contributions made between January 1, 2026 and December 31, 2034, with the program expiring December 31, 2036
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School districts receiving these funds must deposit them into a subaccount of their associated student body program fund for allowable student body purposes
Legislative Description
Concerning green energy community funds to support school districts and nonprofit organizations that service the communities where renewable energy projects are located.
Last Action
By resolution, reintroduced and retained in present status.
1/12/2026