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Bills · 2017-2018 Regular Session

SB 609

Died at session end Official bill text Atom feed

Relating to: claiming the manufacturing and agriculture tax credit and transferring moneys to the veterans trust fund. (FE)

Agricultural credit Corporation — Taxation Income tax — Deduction Industrial development Veterans trust fund

  1. Introduced, stopped here
  2. Passes Senate, not reached
  3. Passes Assembly, not reached
  4. Governor signs, not reached
  5. Law, not reached

Unfamiliar terms? Glossary

What this bill does

Plain-language analysis by the nonpartisan Legislative Reference Bureau

This bill provides that no individual may claim the manufacturing and

agriculture income tax credit for any taxable year after 2016 in which the

individual's adjusted gross income is $30,000,000 or more. Under current law, any

person who has qualified production activities income from manufacturing or

agriculture may claim the credit in an amount equal to the income multiplied by 7.5

percent.

The bill also transfers $22,000,000 from the general fund to the veterans trust

fund in fiscal year 2018-19 and in each fiscal year thereafter.

What it would cost

Fiscal estimates filed by state agencies, as official PDFs

Sponsors

Introduced by: Carpenter (D) , Hansen (D) , Larson (D)

9 cosponsors

Anderson (D) , Berceau (D) , C. Taylor (D) , Crowley (D) , Kolste (D) , Ohnstad (D) , Sinicki (D) , Spreitzer (D) , Zamarripa (D)

Full history

  1. Nov 30, 2017 · Senate

    Introduced by Senators Hansen, Carpenter and Larson; cosponsored by Representatives Zamarripa, Spreitzer, Anderson, Berceau, Crowley, Kolste, Ohnstad, Sinicki and C. Taylor

  2. Nov 30, 2017 · Senate

    Read first time and referred to Committee on Government Operations, Technology and Consumer Protection

  3. Dec 14, 2017 · Senate

    Fiscal estimate received

  4. Mar 28, 2018 · Senate

    Failed to pass pursuant to Senate Joint Resolution 1