This bill aims to repeal the business and occupation tax increases that were enacted in 2025, specifically targeting various sections of the 2025 c 420 legislation. It includes the repeal of multiple sections (101 through 113) of the 2025 act, which introduced these tax increases, as well as the repeal of RCW 82.04.288, which imposed a surcharge on businesses with taxable income exceeding $250 million. Additionally, the bill repeals the advanced computing surcharge outlined in section 301 of the 2025 act.

The bill also includes several new sections that clarify its provisions, such as stating that certain existing laws do not apply to this act and ensuring that if any part of the act is deemed invalid, the remainder will still be effective. It declares an emergency, indicating that the act is necessary for the immediate preservation of public peace, health, or safety, and sets an effective date of April 1, 2026.