Public Utility Tax Credit Form - For Contributions To An Electric Utility Rural Economic Development Revolving Fund - 2010
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3APRIL 30, 2010
Electric Utility Tax Credit for Rural Economic Development Revolving Fund
Qualifying light and power businesses are eligible for a public utility tax credit for an amount equal to 50
percent of contributions made to an electric utility rural economic development revolving fund. The credit
program is effective through June 30, 2011. (Revised Code of Washington (RCW) 82.16.0491)
The total amount of credit statewide for all light and power businesses is $350,000 per fi scal year. Each light
and power business is limited to a maximum credit of $25,000 per fi scal year. The credit taken by each light
and power business may not exceed the business’ public utility tax liability.
The goal of the program is to support qualifying projects that improve economic, health and safety conditions,
and facilitate conservation and development of renewable energy resources in qualifying rural areas. This goal
is achieved when the investment of the revolving funds have generated capital investment in an amount of
$4,750,000 or more within a fi ve-year period.
This notice is our annual update on the program and includes the application form for July 1, 2010 to June 30,
2011.
The Program
Light and power businesses or local boards whose members live or work in the qualifying rural area may
establish a fund. Expenditures from the fund must be made solely on qualifying projects. “Qualifying project”
means a project designed to achieve job creation or business retention, to add or upgrade nonelectrical
infrastructure, to add or upgrade health and safety facilities, to accomplish energy and water use effi ciency
improvements, including renewable energy development, or to add or upgrade emergency services in any
designated qualifying rural area.
A “qualifying rural area” is a county with a population density of less than 100 persons per square mile, a
county smaller than 225 square miles, or any geographic area that receives electricity from a light and power
business with 12,000 customers or less. The tax credit is available for contributions to a fund in a qualifi ed
area.
Qualifying Rural Counties
The following counties qualify:
Adams
Douglas
Jefferson
Pacifi c
Walla Walla
Asotin
Ferry
Kittitas
Pend Oreille
Whatcom
Benton
Franklin
Klickitat
San Juan
Whitman
Chelan
Garfi eld
Lewis
Skagit
Yakima
Clallam
Grant
Lincoln
Skamania
Columbia
Grays Harbor
Mason
Stevens
Cowlitz
Island
Okanogan
Wahkiakum
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