Establishes a tax on surplus zero-emission vehicle credits banked, sold, or pooled by manufacturers.

The bill imposes an excise tax on the pooling, banking, and sale of surplus zero-emission vehicle (ZEV) credits by manufacturers. The tax applies to ZEV credits banked, sold, or pooled after the bill's effective date. For ZEV credits sold to another manufacturer, the tax is two percent of the credit sales price. For banked ZEV credits, the tax is ten percent of the average ZEV credit price calculated by the Department of Ecology. The tax revenue is directed to the electric vehicle incentive account and the carbon emissions reduction account.

Establishes a tax on surplus zero-emission vehicle credits banked, sold, or pooled by manufacturers.

The bill imposes an excise tax on the pooling, banking, and sale of surplus zero-emission vehicle (ZEV) credits by manufacturers. The tax applies to ZEV credits banked, sold, or pooled after the bill's effective date. For ZEV credits sold to another manufacturer, the tax is two percent of the credit sales price. For banked ZEV credits, the tax is ten percent of the average ZEV credit price calculated by the Department of Ecology. The tax revenue is directed to the electric vehicle incentive account and the carbon emissions reduction account.