Washington SB5932 provides tax credits for businesses producing and using low-carbon alternative jet fuel in the state.

The bill amends Washington state tax laws to provide tax credits for businesses involved in the production and use of alternative jet fuel, which has lower carbon emissions than conventional jet fuel. The credits are available for businesses that produce at least 20 million gallons of alternative jet fuel annually. The credits are calculated based on the reduction in carbon dioxide emissions compared to conventional jet fuel, with additional credits for further reductions. The credits can be carried over to the next tax year but not beyond.

Washington SB5932 provides tax credits for businesses producing and using low-carbon alternative jet fuel in the state.

The bill amends Washington state tax laws to provide tax credits for businesses involved in the production and use of alternative jet fuel, which has lower carbon emissions than conventional jet fuel. The credits are available for businesses that produce at least 20 million gallons of alternative jet fuel annually. The credits are calculated based on the reduction in carbon dioxide emissions compared to conventional jet fuel, with additional credits for further reductions. The credits can be carried over to the next tax year but not beyond.