Tuesday, March 19, 2013

WA Extends Biomass Tax Break to Mills, with Caveat

Winning a tax break could become a lot harder to do at the Washington state Capitol soon.
In both the Democrat-run House and Republican-leaning Senate, bills have passed unanimously this year either to set a new standard for an existing tax break or to lay out expectations for new ones. The House is taking the stricter position, demanding specific goals for job creation or retention, proof that goals are being met, and an expiration date.
And in what House Finance Committee Chairman Reuven Carlyle says is an Evergreen State first, a bill extending a fuel-tax break for lumber and paper mills - mostly on the economically hard-hit Olympic Peninsula - will require a company to repay tax favors if it takes the money then pulls up stakes and leaves the state for China, Brazil or even Idaho.