SB6112 – Creating a ten year B&O tax credit for food donated by grocery stores and other retailers.
Prime Sponsor – Senator Lovick (D; 44th District; Mill Creek) (Co-Sponsors Kuderer, Nguyen, Randall, Shewmake, Van De Wege, and Claire Wilson – Ds)
Current status – Had a hearing in Senate Ways & Means on January 18th.
Next step would be – Action by the committee.
Legislative tracking page for the bill.
Summary –
The buill would create a ten year business & occupation tax credit for 100% of the purchase price of food donations and 50% of the cost of fuel used by a distributor for transporting them to a food bank. It would be available to businesses retailing a general line of groceries, and they would be able to carry credits over for one year.
The Joint Legislative Audit and Review Committee would evaluate the year-to-year change in the number of taxpayers claiming the credit and the amount claimed. The bill declares that the Legislature intends to extend the credit if the total value of donations has increased over the period of evaluation. (There’s no mention of a correction for inflation.)