The bill aims to extend the expiration date for the sales and use tax exemption on hog fuel, aligning it with Washington state's 2045 deadline for fossil fuel-free electrical generation. This extension is intended to support job retention and growth in economically distressed communities while promoting the use of renewable energy and healthy forest management. Specifically, the expiration date for the tax exemption is changed from June 30, 2024, to June 30, 2034, in multiple sections of the law, including RCW 82.08.956, RCW 82.12.956, and RCW 82.32.605.

Additionally, the bill introduces a new section that outlines a tax preference performance statement, which is designed to evaluate the effectiveness of the tax preferences granted under the bill. This performance statement emphasizes the legislature's goal of ensuring that beneficiary facilities provide a significant percentage of their employees with medical and dental insurance, as well as retirement plans. The bill also stipulates that the joint legislative audit and review committee may utilize annual tax performance reports and employment data to assess the impact of these tax preferences on achieving the stated public policy objectives.

Statutes affected:
Original Bill: 82.08.956, 82.12.956