Washington Clean Tech Alliance
Prepared by: Boswell Consulting
The House put out its version of the budget, but unfortunately, there was no funding within either the House or Senate Capital budget for any of Governor Inslee’s clean technology fund proposal. The House also proposed changes to the R&D:
- Modifying the tax credit for high tech R&D – Limits the credit to businesses with annual gross income of $10 million or less. The incentive expires July 1, 2015; therefore, the 2015 estimate reflects 6 months of revenues.
- Repealing the high tech R&D sales tax deferral program – Businesses already in the deferral program are grandfathered in. Provides an expiration date of July 1, 2013 for the issuance of new deferral certificates.
These could have impacts on WCTA membership. The House specifically ties the revenue from these tax changes to higher education. Negotiations will now begin between the House and Senate and, unfortunately, they appear to be far apart and not likely to come to resolution before session comes to a close. We are expecting some form of special session.
See the full report with Bill Trading here.