This past Friday was the Washington State Legislature’s House of Origin Fiscal Cutoff. Fiscal cutoff is the last day bills can be voted out of fiscal committees in their respective chamber of origin. Here you can find a link to bills that have passed House of Origin Fiscal Cutoff. Bills that did not make it out of committee this past Friday while not necessarily “dead”, are unlikely to receive any further consideration this session. The exception to this rule being initiatives, budget bills, and bills considered N.T.I.B. (necessary to implement the budget) as they are exempt from cutoff.
EASC continues to work with stakeholders in Olympia to advocate for policies that fit within our regional priorities. Of the roughly 20 bills EASC has been tracking since the beginning of session, over half have continued on past cutoff.
Two bills of importance that EASC are still tracking as N.T.I.B. are the R&D high-tech tax credit and Tourism Marketing Program. The positive economic impact of these bills makes them very high priorities for EASC in 2017. While both did not make it out of committee before cutoff on Friday, both are considered N.T.I.B. and we will continue advocating for them as we move further along in the process. Below are brief summaries of both bills:
HB 1894/SB 5630: High-Tech R&D Tax Credit – Support
- This bill establishes a B&O tax credit for qualified R&D expiring 1/1/27
- Establishes a state and local sales tax deferral program for high-tech R&D, pilot scale
manufacturing facilities, and purchases on certain machinery and equipment
- Establishes performance metrics to measure success to the tax preferences
HB 1123/SB 5251: Tourism Marketing – Support
- Creates the Washington Tourism Marketing Authority (Authority) to manage financial resources for the development of a statewide tourism marketing plan.
- Directs 0.1 percent of retail sales taxes collected on lodging, car rentals, and restaurants to fund the implementation of the statewide tourism marketing plan.
- Requires the Joint Legislative Audit and Review Committee to complete an evaluation of the Authority.
This week EASC will be in Olympia meeting with legislators to discuss the importance of STEM (Science, Technology, Engineering, and Math education) here in Snohomish County.