Problem with item state variable

While you rule may work, it is holding on a thread for a potentially long time and that’s dangerous:
See:

There is a better approach using timers:
Your rule would become:

var timer = null // global variable
var secondsCounter = 0
rule "Turn Sump Pump On - Afternoon"
when
    Time cron "40 06 10 ? * * *"
then
    Sump_Pump.sendCommand(ON)
    timer = createTimer(now, [ |
        if(!ZWaveNode2ZEN15PowerSwitch_ElectricMeterAmps.Watts.state > 275) {
            logInfo("mySumpLog", "Seconds (" + secondsCounter.toString + "): " + ZWaveNode2ZEN15PowerSwitch_ElectricMeterAmps.Watts.state)
            timer.reschedule(now.plusMillis(1000))
        } else {
            timer = null
            secondsCounter = 0
            Sump_Pump.sendCommand(OFF)
        }
    ])
end