Restores tax credit for low-income energy assistance in Washington.

The bill restores the public utility tax credit for low-income assistance in Washington. It allows light and power businesses and gas distribution businesses to claim a credit for qualifying contributions and billing discounts. The credit is limited to 50 percent of the dollar amount of qualifying contributions or billing discounts given in the fiscal year. The bill also establishes a performance statement for evaluating the tax preference and mandates reviews by the joint legislative audit and review committee. The act takes effect July 1, 2026.

Restores tax credit for low-income energy assistance in Washington.

The bill restores the public utility tax credit for low-income assistance in Washington. It allows light and power businesses and gas distribution businesses to claim a credit for qualifying contributions and billing discounts. The credit is limited to 50 percent of the dollar amount of qualifying contributions or billing discounts given in the fiscal year. The bill also establishes a performance statement for evaluating the tax preference and mandates reviews by the joint legislative audit and review committee. The act takes effect July 1, 2026.