The bill amends existing laws related to the commute trip reduction tax credit in Washington State, extending the eligibility period for tax credits for employers and property managers who provide financial incentives for ride sharing, public transportation, car sharing, or nonmotorized commuting. The deadline for these credits has been pushed from January 1, 2025, to January 1, 2035. Additionally, the maximum allowable tax credit per employee or person has been maintained at $60 per fiscal year, but the calculation method has been simplified by removing the previous requirement to multiply the amount paid by 50 percent.

Furthermore, the bill introduces a cap on the total tax credits that can be claimed by any individual in a fiscal year, reducing the limit from $100,000 to $50,000. It also establishes a new expiration date for the program, moving it from July 1, 2025, to July 1, 2035. The act is deemed necessary for the immediate preservation of public peace, health, or safety, and is set to take effect on July 1, 2025.

Statutes affected:
Original Bill: 82.70.020, 82.70.040, 82.70.900
Substitute Bill: 82.70.020, 82.70.040, 82.70.900