Bill > SB5216

This bill creates a tax credit program to support local communities hosting renewable energy projects by allowing qualifying light and power businesses (utility companies) to receive tax credits for making cash contributions to school districts or nonprofit organizations located in the same areas as wind or solar energy facilities. The bill establishes a mechanism where these businesses can apply for tax credits equal to 75% of their contributions, with a total statewide credit limit of $5 million per year and a maximum of $250,000 per business annually. The program will run from January 1, 2026, to December 31, 2034, and requires businesses to submit applications between January 1st and July 1st, make contributions by October 1st, and provide proof of payment by October 15th. The legislature's intent is to ensure that the economic benefits of green energy projects are shared more directly with the host communities, recognizing that while renewable energy projects create broader environmental and economic advantages, the local areas where these projects are situated should also receive tangible benefits. The bill defines specific terms, outlines application and contribution processes, and establishes rules for claiming and administering the tax credits.

Agriculture and Natural Resources

https://app.leg.wa.gov/billsummary?BillNumber=5216&Year=2025&Initiative=false