Bill Introduction Notice for 2967 HB

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HB 2967, titled AN ACT Relating to assisting Washington families by improving the fairness of the state's tax system by enacting a capital gains tax and providing property tax relief, has been introduced in the House of Representatives. The Office of Financial Management has identified this bill as requiring a ten-year projection of increased cost to the taxpayers or affected fee payers.

Ten-year projection:

Fiscal Year		Capital Gains Tax
2018
2019
2020		$   857,300,000
2021		932,300,000
2022		968,000,000
2023		1,009,900,000
2024		1,053,100,000
2025		1,096,100,000
2026		1,134,600,000
2027		1,175,600,000
Total:		$ 8,226,900,000

Declares an intent to ask the state’s citizens to reduce the state property tax levy and replace it with the capital gains excise tax. 

Bill sponsors and contact information:

Representative Kristine Lytton, Prime Sponsor

Democrat

Anacortes

(360) 786-7800

Kristine.Lytton@leg.wa.gov

Representative Laurie Dolan

Democrat

Olympia

(360) 786-7940

Laurie.Dolan@leg.wa.gov

Representative Sharon Wylie

Democrat

Vancouver

(360) 786-7924

Sharon.Wylie@leg.wa.gov

Representative Noel Frame

Democrat

Seattle

(360) 786-7814

Noel.Frame@leg.wa.gov

Representative Javier Valdez

Democrat

Seattle

(360) 786-7818

Javier.Valdez@leg.wa.gov

Representative Gerry Pollet

Democrat

Seattle

(360) 786-7886

Gerry.Pollet@leg.wa.gov

Representative Beth Doglio

Democrat

Olympia

(360) 786-7992

Beth.Doglio@leg.wa.gov

Representative Sharon Tomiko Santos

Democrat

Seattle

(360) 786-7944

SharonTomiko.Santos@leg.wa.gov

Representative Nicole Macri

Democrat

Seattle

(360) 786-7826

Nicole.Macri@leg.wa.gov

Legislative Bill Information Website: http://apps.leg.wa.gov/billinfo/

Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp