WA
Washington Senate Bill SB6243

Washington 2023-2024 Regular Session

Washington Senate Bill SB6243

Introduced
1/16/24  

Caption

Providing a state business and occupation tax exemption to encourage clean technology manufacturing in Washington.

Impact

If enacted, SB6243 would significantly alter the landscape of taxation for businesses involved in clean technology manufacturing. The proposed tax exemption is poised to not only enhance the competitiveness of Washington companies but also attract new investments in the clean tech industry. This shift in policy could stimulate economic growth by creating jobs and promoting technological advancements that align with state and national environmental goals. However, critics might question the long-term sustainability of such exemptions and their impact on the state’s overall tax revenue.

Summary

SB6243 aims to promote clean technology manufacturing in Washington by providing a business and occupation tax exemption. This legislative initiative is designed to encourage the growth and sustainability of businesses operating within the clean technology sector. By alleviating some of the tax burdens, the bill seeks to create a more favorable business environment that can lead to innovation and development in green technologies. The sponsors of the bill argue that such incentives are necessary to compete with other states actively courting clean energy investments.

Contention

Although the intentions behind SB6243 appear beneficial for fostering a clean technology sector, there are notable points of contention that could arise in the legislative process. Concerned stakeholders may argue about the potential implications of tax exemptions on existing businesses that may not qualify for such benefits, leading to claims of unfair competition. Additionally, there may be discussions around the prioritization of funding and resources for clean technology versus other pressing needs within the state. Opponents could emphasize the necessity of a balanced approach to ensure all sectors receive fair support.

Companion Bills

No companion bills found.

Previously Filed As

WA SB5675

Providing a business and occupation tax exemption for manufacturing facilities and green manufacturing facilities.

WA SB6303

Providing tax incentives to encourage energy storage system and component parts manufacturing in Washington.

WA HB1320

Modifying business and occupation tax rates to fund programs and services to benefit Washingtonians.

WA HB1981

Incentivizing clean nuclear energy manufacturing through preferential business and occupation tax rates.

WA HB1604

Providing a retroactive business and occupation tax exemption for custom farming.

WA HB2045

Investing in Washington families by restructuring the business and occupation tax on high grossing businesses and financial institutions.

WA SB5269

Concerning Washington state manufacturing.

WA HB1924

Providing a sales and use tax exemption for manufacturing facilities and green manufacturing facilities.

WA SB5673

Providing a sales and use tax exemption for manufacturing facilities and green manufacturing facilities.

WA HB1993

Exempting child care providers from the business and occupation tax.

Similar Bills

No similar bills found.