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Bill would tax trading and banking of zero‑emission vehicle credits; automakers and advocates urge caution
Summary
Senate Bill 5811 would impose excise taxes on sales, pooling and banking of ZEV (zero‑emission vehicle) credits under Washington’s adoption of California standards; staff projected tens of millions in near‑term revenue but automakers and EV advocates warned the tax risks disrupting the credit market and disincentivizing compliance.
Senate Bill 5811 would impose a new excise tax on the sale, pooling and banking of zero‑emission vehicle (ZEV) credits that manufacturers earn and trade under the state’s adoption of California vehicle‑emissions rules, Ways & Means staff said at a briefing and hearing on April 16.
Committee staff summarized how the ZEV compliance market works: manufacturers earn credits when they deliver qualifying vehicles for sale in states that follow California’s program; credits can be banked for future compliance, sold to other manufacturers, or pooled/transferred for use in other participating states. The bill would tax the actual sale price of…
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