Notice of Committee Passage of Engrossed Third Substitute House Bill 1324

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E3SHB 1324, titled AN ACT Relating to creating the Washington rural development and opportunity zone act, has been passed by the Senate Committee on Ways & Means. 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:

REVENUE ESTIMATES:

This bill decreases state revenues by an estimated $26.1 million in Fiscal Year 2025 due to the extension of a preferential B&O rate for the timber industry.  State revenue decreases due to the B&O tax credit are indeterminate.

TOTAL REVENUE IMPACT: 

      State Government (cash basis, $000): 

           FY 2020 -      $          0                   

           FY 2021 -      $          0                   

           FY 2022 -      $          0                   

           FY 2023 -      $          0       

           FY 2024 -      $          0                   

           FY 2025 -     ($ 26,100)                   

      Local Government, if applicable (cash basis, $000): None

The cash receipts impact associated with this proposed legislation is indeterminate. No historical data exists to support a reasonable set of assumptions regarding application fees.

The following legislators voted do pass:

Senator Mark Schoesler
Republican
(360) 786-7620
Mark.Schoesler@leg.wa.gov

Senator Steve Conway
Democrat
(360) 786-7656
Steve.Conway@leg.wa.gov

Senator Karen Keiser
Democrat
(360) 786-7664
Karen.Keiser@leg.wa.gov

Senator Sam Hunt
Democrat
(360) 786-7642
Sam.Hunt@leg.wa.gov

Senator Jeannie Darneille
Democrat
(360) 786-7652
DARNEILL_JE@leg.wa.gov

Senator Barbara Bailey
Republican
(360) 786-7618
Barbara.Bailey@leg.wa.gov

Senator Christine Rolfes
Democrat
(360) 786-7644
Christine.Rolfes@leg.wa.gov

Senator Kevin Van De Wege
Democrat
(360) 786-7646
Kevin.VanDeWege@leg.wa.gov

Senator Judy Warnick
Republican
(360) 786-7624
Judith.Warnick@leg.wa.gov

Senator Marko Liias
Democrat
(360) 786-7640
Marko.Liias@leg.wa.gov

Senator Randi Becker
Republican
(360) 786-7602
Randi.Becker@leg.wa.gov

Senator Andy Billig
Democrat
(360) 786-7604
Andy.Billig@leg.wa.gov

Senator Ann Rivers
Republican
(360) 786-7634
Ann.Rivers@leg.wa.gov

Senator David Frockt
Democrat
(360) 786-7690
David.Frockt@leg.wa.gov

Senator Mark Mullet
Democrat
(360) 786-7608
Mark.Mullet@leg.wa.gov

Senator John Braun
Republican
(360) 786-7638
John.Braun@leg.wa.gov

Senator Guy Palumbo
Democrat
(360) 786-7600
Guy.Palumbo@leg.wa.gov

Senator Keith Wagoner
Republican
(360) 786-7676
Keith.Wagoner@leg.wa.gov


The following legislators voted to refer the bill without recommendation:

Senator Bob Hasegawa
Democrat
(360) 786-7616
Bob.Hasegawa@leg.wa.gov

Senator Jamie Pedersen
Democrat
(360) 786-7628
Jamie.Pedersen@leg.wa.gov

Senator Reuven Carlyle
Democrat
(360) 786-7670
Reuven.Carlyle@leg.wa.gov


Not voting:

Senator Jim Honeyford
Republican
(360) 786-7684
Jim.Honeyford@leg.wa.gov

Senator Sharon Brown
Republican
(360) 786-7614
Sharon.Brown@leg.wa.gov

Senator Lynda Wilson
Republican
(360) 786-7632
Lynda.Wilson@leg.wa.gov



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

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