Rep. Barnard’s dual bills drive economic growth and propel nuclear efforts
CONTACT: Jennifer Hansen, Senior Public Information Officer | 360-786-7720
Rep. Barnard’s dual bills drive economic growth and propel nuclear efforts
Representative Stephanie Barnard has introduced two pivotal bills designed to accelerate clean nuclear energy development and other economic opportunities, such as manufacturing businesses, in the Tri-Cities and surrounding counties.
The 8th District lawmaker’s proposals, House Bill 2120 and House Bill 1981, aim to foster economic opportunities, create more well-paying jobs, and position the region as a hub for cutting-edge clean nuclear energy technology.
“These bills resulted from a great deal of work, meeting with community, business, and local officials to achieve regional objectives. They are significant steps toward supporting the clean nuclear energy sector and growing our manufacturing base in our region. This, in turn, will mean more jobs and prosperous, thriving communities,” stated Barnard, R-Pasco.
The first bill, HB 2120, aims to guarantee access to targeted urban area (TUA) tax incentives for clean energy manufacturers. This legislation expands on the previously approved statute from 2022 (HB 1386), which provides property tax exemptions to manufacturers in TUAs meeting specified job targets.
Specifically, the measure addresses challenges faced by nuclear manufacturing facilities, which result from extended reviews by the United States Nuclear Regulatory Commission. By granting additional time for these facilities to fulfill the criteria required for the tax preference, Barnard’s legislation promotes the growth of these manufacturers — providing added economic benefits to the local region and the state.
“Washington state is committed to achieving world-class clean energy production. My bill seeks to attract new businesses in advanced nuclear fuels — supporting our state’s decarbonization initiatives.”
The lawmaker’s other proposal, HB 1981, seeks to incentivize clean nuclear energy manufacturing through preferential business and occupation (B&O) tax rates.
“Any potential lost revenue from these incentives is insignificant compared to the economic development, new jobs, and increased tax base it brings — opening the door to prosperity for the entire state. This is how we intentionally develop a clean energy future for Washington,” emphasized Barnard.
Barnard remarked that the selection of locations for new infrastructure will be determined in the coming years, involving active competitions organized by the U.S. Department of Energy. She noted that offering B&O tax reductions is “instrumental in ensuring the continued significance of these operations” within the state’s economy.
Featuring a rate of 0.25, the legislation includes businesses involved in retail sales, manufacturing, and processing of nuclear fuel and assemblies. If approved, these tax preferences would be slated to expire on Jan. 1, 2036.
“Both of these bills not only promote the expansion of current operations but also attract new businesses, creating long-term, employment opportunities in advanced nuclear fuels, all while delivering cost-effective energy solutions to the market,” concluded Barnard.
