82.04.4494 - Credit -- Forest derived biomass.

Credit — Forest derived biomass. (Expires June 30, 2015.)

(1) In computing the tax imposed under this chapter, harvesters are allowed a credit against the amount of tax otherwise due under this chapter, as provided in this section. The credit per harvested green ton of forest derived biomass sold, transferred, or used for production of electricity, steam, heat, or biofuel is as follows:

     (a) For forest derived biomass harvested October 1, 2009, through June 30, 2010, zero dollars;

     (b) For forest derived biomass harvested July 1, 2010, through June 30, 2013, three dollars;

     (c) For forest derived biomass harvested July 1, 2013, through June 30, 2015, five dollars.    

     (2) Credit may not be claimed for forest derived biomass sold, transferred, or used before July 1, 2009. The amount of credit allowed for a reporting period may not exceed the tax otherwise due under this chapter for that reporting period. Any unused excess credit in a reporting period may be carried forward to future reporting periods for a maximum of two years.

     (3) For the purposes of this section, "harvested" and "harvesters" are defined in RCW 84.33.035, and "biofuel" is defined in RCW 43.325.010.

     (4) This section expires June 30, 2015.

[2009 c 469 § 401.]

Notes: Effective date -- 2009 c 469: See note following RCW 82.08.962.