Bill > HB1043

This bill extends the Commute Trip Reduction (CTR) tax credit program for employers and property managers in Washington State until January 1, 2035. The bill allows businesses taxable under chapters 82.04 and 82.16 RCW to receive a tax credit for providing financial incentives to employees for ride sharing, using public transportation, car sharing, or nonmotorized commuting. The credit is limited to $60 per employee per fiscal year, with a total annual cap of $2,750,000 across all applicants. The bill reduces the maximum individual tax credit from $100,000 to $50,000 per fiscal year and maintains the existing rule that no refunds will be granted for these credits. Additionally, the bill extends the program's expiration date from July 1, 2025, to July 1, 2035, and includes an emergency clause to ensure the act takes effect on July 1, 2025. The primary goal of this legislation is to continue encouraging alternative transportation methods and reduce single-occupancy vehicle commutes by providing financial incentives to businesses that support employee transportation options.

Budget and Finance

https://app.leg.wa.gov/billsummary?BillNumber=1043&Year=2025&Initiative=false