Notice of Introduction of House Bill 1717

You are receiving this email as a subscriber to the Initiative 960 email list. RCW 43.135.031 (I-960) requires that notices be sent each time a bill that raises taxes or fees is: introduced in either house; scheduled for a public hearing; approved by any legislative committee; or passed by either house of the Legislature.

Please note: This email message was sent from a notification-only address. Please do not reply to this message.

HB 1717, titled AN ACT Relating to extending the expiration date on the health sciences and services authority sales and use tax authorization, 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:

Under current law, local authorities that have created a health sciences and services authority (HSSA) prior to January 1, 2010, may impose a state-shared sales and use tax to promote bioscience-based economic development and advance new therapies and procedures to combat disease and promote public health or to finance and retire indebtedness per RCW 35.104.070.  The tax is set to expire January 1, 2023.  

This legislation extends the expiration date to January 1, 2038.

ASSUMPTIONS

- There is one HSSA in Spokane City.

- In Fiscal Year 2018, the Spokane HSSA received $2.2 million.

- The Spokane HSSA will extend the tax in 2023.

- Impact reflects 5 months of cash collection for Fiscal Year 2023.

DATA SOURCES

Department of Revenue excise tax data.

REVENUE ESTIMATES 

TOTAL REVENUE IMPACT: 

      State Government (cash basis, $000): 

           FY 2020 -       $ 0

           FY 2021 -       $ 0

           FY 2022 -       $ 0

           FY 2023 -      ($ 1,125)

           FY 2024 -      ($ 2,800)

           FY 2025 -      ($ 2,900)

      Local Government, if applicable (cash basis, $000): 

           FY 2020 -      $ 0

           FY 2021 -      $ 0

           FY 2022 -      $ 0

           FY 2023 -      $ 1,125

           FY 2024 -      $ 2,800

           FY 2025 -      $ 2,900

Bill sponsors and contact information:




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

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