WA SB5811

Imposes an excise tax on surplus zero-emission vehicle (ZEV) credits that manufacturers sell, bank, or pool under Washington's ZEV program, beginning with model year 2024

Tax rates vary by activity: 2% on credits sold to other manufacturers, 10% on banked credits, and 10-50% on pooled credits (with the lower rate available if manufacturers demonstrate comparable ZEV sales rates in Washington versus other states)

Exempts manufacturers that bank or sell fewer than 25,000 ZEV credits per model year, though the exemption does not apply to pooled credits

Directs tax revenue with 30% to the electric vehicle incentive account and 70% to the state general fund (until June 30, 2027) then to the carbon emissions reduction account

Requires manufacturers to report ZEV credit transaction prices to the Department of Revenue by October 31st annually, with individual transaction prices exempt from public disclosure