Bonneville Power Administration funding

From the 2024 DOR Tax Exemption Study

82.04.310(4) - Bonneville Power Administration funding Description Credits or funds provided by the Bonneville Power Administration for the purposes of implementing energy conservation or demand-side management programs are exempt from B&O tax if the tax savings received are used for the purpose of low- income ratepayer assistance or weatherization. The exemption expires January 1, 2031. Purpose Supports energy conservation programs. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $0.945 $0.945 $0.945 $0.945 Local Taxes $0.000 $0.000 $0.000 $0.000 Repeal of Repealing this exemption would increase revenues. exemption Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 $0.866 $0.945 $0.945 Local Taxes $0.000 $0.000 $0.000 $0.000 Assumptions - This repeal takes effect July 1, 2024, and impacts 11 months of collections in fiscal year 2025. - Bonneville Power Administration energy conservation program bill savings for ratepayers averages $63 million per year. Growth is minimal; therefore, amount remains the same for future periods. Data Sources - Bonneville Power Administration, Annual Report 2021 Add