HB2723 modifies tax preferences in Washington, removing exemptions for certain gas uses and imposing new taxes.

HB2723 amends Washington tax laws by removing exemptions for the use of natural and manufactured gas in specific operations and imposing new taxes on certain gas uses. The bill identifies that many tax exemptions have remained unchanged for a long time and are the result of private interests securing preferential tax treatment. Effective until July 1, 2027, the bill removes exemptions for the use of natural or manufactured gas in manufacturing, research and development, and testing operations.

HB2723 modifies tax preferences in Washington, removing exemptions for certain gas uses and imposing new taxes.

HB2723 amends Washington tax laws by removing exemptions for the use of natural and manufactured gas in specific operations and imposing new taxes on certain gas uses. The bill identifies that many tax exemptions have remained unchanged for a long time and are the result of private interests securing preferential tax treatment. Effective until July 1, 2027, the bill removes exemptions for the use of natural or manufactured gas in manufacturing, research and development, and testing operations.