Bill > HB1960

This bill aims to encourage renewable energy development in Washington by modifying tax policies and investing in local communities. It introduces new definitions for terms like "battery electric storage systems" and "qualified renewable energy facility," which refer to specific types of renewable energy generation and storage technologies with a minimum capacity. A key provision exempts personal property used in these qualified renewable energy facilities and battery electric storage systems from property taxes, provided they meet certain operational or repowering dates, or opt into a new tax system. This exemption applies to new facilities operational on or after January 1, 2028, and also to existing facilities that choose to opt into the new tax structure. The bill establishes a state renewable energy excise tax and allows counties to impose a local renewable energy excise tax on the use of these facilities, with specific rates set per megawatt for solar and wind facilities and per megawatt-hour for battery storage systems. These excise taxes are intended to replace the property tax exemption and are designed to generate revenue for local investment. The bill also creates a local investment distribution account to fund programs that support communities hosting renewable energy projects, including grants to counties and tribes, and mandates a review of the tax rates by the joint legislative audit and review committee to ensure fairness and competitiveness. Additionally, it amends existing property tax laws to exclude certain renewable energy facilities from property tax limitations and clarifies rules regarding the disclosure of tax information to facilitate the administration of these new taxes.