Bill > HB2486

This bill extends the commute trip reduction tax credit program in Washington state. The key provisions are: 1. Extending the tax credit program from January 1, 2024 to January 1, 2026, allowing employers and property managers to continue receiving tax credits for providing financial incentives to employees for using public transportation, car sharing, or non-motorized commuting. 2. Increasing the maximum tax credit amount from $60 to $100 per employee or person per fiscal year. 3. Increasing the overall annual cap on the total amount of tax credits that can be claimed from $2,750,000 to $4,300,000. 4. Removing the ability to carry forward unused tax credits to future years, requiring them to be used within the same calendar year they are approved. 5. Reducing the maximum tax credit that can be claimed by a single person or entity in a fiscal year from $100,000 to $50,000. This bill aims to encourage the continued use of commute trip reduction programs in Washington by extending and modifying the associated tax credit program.