82.32.393 - Thermal electric generation facilities with tax exemptions for air pollution control equipment -- Payments upon cessation of operation. - Washington Statutes

Thermal electric generation facilities with tax exemptions for air pollution control equipment — Payments upon cessation of operation. (Expires December 31, 2015.)

If a business is allowed an exemption under RCW 82.08.810, 82.12.810, 82.08.811, 82.12.811, or 84.36.487, and the business ceases operation of the facility for which the exemption is allowed, the business shall deposit into the displaced workers account established in RCW 50.12.280 an amount equal to the fair market value of one-quarter of the total sulfur dioxide allowances authorized by federal law available to the facility at the time of cessation of operation of the generation facility as if the allowances were sold for a period of ten years following the time of cessation of operation of the generation facility. This section expires December 31, 2015.

[1997 c 368 § 12.]

Notes: Findings -- Intent -- Rules adoption -- Severability -- Effective date -- 1997 c 368: See notes following RCW 82.08.810.