HB 1981

This bill aims to attract nuclear energy manufacturing to Washington State by providing preferential business and occupation (B&O) tax rates to companies that manufacture nuclear fuel and related components for nuclear reactors, including advanced small modular reactors and micro modular reactors. The legislation amends existing tax code (RCW 82.04.260) to add nuclear energy manufacturers to the list of businesses that qualify for reduced B&O tax rates, similar to those currently offered to certain agricultural and food processing industries. By offering these tax incentives, the bill seeks to position Washington as a leader in clean energy technology while supporting the state's decarbonization goals and creating manufacturing jobs in the clean energy sector.