This bill aims to enhance access to targeted urban area tax preferences for clean energy transformation businesses in Washington State. It emphasizes the legislature's commitment to clean energy production and the creation of family-wage jobs. The bill allows cities to extend the duration of tax preferences for these businesses, thereby supporting economic growth and the state's carbon-free energy objectives. New definitions are introduced, including "clean energy transformation business," which encompasses entities involved in nuclear energy, clean hydrogen production, energy storage technologies, and high-voltage electric energy transmission.

Additionally, the bill amends existing laws to clarify the requirements for tax exemption applications and the responsibilities of city authorities in verifying compliance. It specifies that cities must consult with the Department of Labor and Industries to ensure that construction projects adhere to wage and labor standards. The bill also allows for extensions of deadlines for project completion, particularly for clean energy transformation businesses, providing up to two additional 24-month extensions under certain conditions. Overall, the legislation seeks to streamline the process for clean energy businesses to benefit from tax exemptions while ensuring compliance with labor standards.

Statutes affected:
Original Bill: 84.25.030, 84.25.110