Incentivizing a long-term commitment to maintain and grow jobs in the aerospace industry in Washington state by extending the expiration date of aerospace tax preferences and expanding the sales and use tax exemption for the construction of new facilities used to manufacture superefficient airplanes to include the construction of new facilities used to manufacture commercial airplanes or the wings or fuselage of commercial airplanes.
Summary
Extends the expiration date of aerospace tax incentives to July 1, 2040, upon the siting of a significant commercial airplane manufacturing program in Washington.
Expands the availability of a sales and use tax exemption for the construction of facilities used to manufacture commercial airplanes.
Terminates the preferential business and occupation (B&O) tax rate applicable to new versions or models of commercial airplanes if final assembly or wing assembly of the new model or version is sited outside the State of Washington.
Requires the Joint Legislative Audit and Review Committee to specifically review employment changes in the aerospace industry every five years as part of its tax preference review process.
From the Engrossed Substitute House Bill Report (ESSB 5952), written by the Legislature's nonpartisan staff. Read the full report ↗
EnactedEnacted · Chapter 2, Laws of 2013, 3rd Special Session
AN ACT Relating to incentivizing a long-term commitment to maintain and grow jobs in the aerospace industry in Washington state by extending the expiration date of aerospace tax preferences and expanding the sales and use tax exemption for the construction of new facilities used to manufacture superefficient airplanes to include the construction of new facilities used to manufacture commercial airplanes or the wings or fuselage of commercial airplanes;