SB5091 – Expanding tax incentives for hydrogen fuel cells.
Prime Sponsor – Senator King (R; 14th District; Yakima)
Current status – Had a hearing in the Senate Committee on Business, Financial Services, Gaming & Trade January 19th. Replaced by a substitute and passed out of committee February 16th. Referred to Ways and Means. Had a hearing March 9th. Replaced by a second substitute specifying that the incentives are for green electrolytic hydrogen; passed out of committee April 4th and referred to Rules. Returned to Business, Financial Services, Gaming & Trade for the 2024 Session.
Next step would be – Scheduling a hearing.
Legislative tracking page for the bill.

Substitute –
This made changes in dates, eligibility, and other details that are summarized by staff at the beginning of it.

Summary –
The bill would create and expand 10 year tax incentives for the research, development, production, and sale of hydrogen fuel cells in the state. It would reduce the B&O tax on businesses manufacturing or selling fuel cells in the state to 0.2904 percent. It would provide a B&O tax credit for 1.7% of a business’s expenditures on fuel cell research and development each year. It would provide a credit eliminating the property or leasehold excise taxes on land used for manufacturing fuel cells. In addition, it would provide a credit eliminating the property tax on the machinery and equipment for manufacturing, research and development, and testing that’s already exempted from the sales tax, if the machinery and equipment were used in manufacturing fuel cells.

(It also says that the Legislature intends to extend the incentives if what seem like inevitable outcomes occur.)