Notice of Public Hearing for Second Engrossed Second Substitute Senate Bill 5740

Office of Financial Management

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2E2SSB 5740, titled AN ACT Relating to creating the secure choice retirement savings program, has been scheduled for a public hearing by the House Committee on Consumer Protection & Business.

Date and Time: 02/25/2020 1:30PM (Subject to change by the Legislature.)
Location: John L. O'Brien Building, House Hearing Rm D, Olympia, WA

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

   Administrative Fee

   Noncompliance Penalty

Total

 

2020

$

                    $

$

2021

                 0

                    0

$

2022

                 0

                    0

$

2023

2,969,089

                    0

$ 2,969,089

2024

2,969,089

                    0

$ 2,969,089

2025

5,938,178

824,000

$ 6,762,178

2026

5,938,178

824,000

$ 6,762,178

2027

5,938,178

824,000

$ 6,762,178

2028

5,938,178

824,000

$ 6,762,178

2029

5,938,178

824,000

$ 6,762,178

 

Total:

$ 35,629,068

$ 4,120,000

$ 39,749,068


Ten-year projection prepared in consultation with the following agencies:

Employment Security Department

This second engrossed bill is proposed by the Senate.

The second substitute bill was proposed by:

Senate Committee on Ways & Means
(360) 786-7715



The original bill sponsors and contact information are:


House Committee on Consumer Protection & Business members and contact information:

Representative Andrew Barkis
Republican
(360) 786-7824
Andrew.Barkis@leg.wa.gov

Representative Brian Blake
Democrat
(360) 786-7870
Brian.Blake@leg.wa.gov

Representative Davina Duerr
Democrat
(360) 786-7928
DUERR_DA@leg.wa.gov

Representative Jeremie Dufault
Republican
(360) 786-7874
DUFAULT_JE@leg.wa.gov

Representative Larry Hoff
Republican
(360) 786-7812
HOFF_LA@leg.wa.gov

Representative Jesse Johnson
Democrat
(360) 786-7830
JOHNSON_JE@leg.wa.gov

Representative Steve Kirby
Democrat
(360) 786-7996
Steve.Kirby@leg.wa.gov

Representative Cindy Ryu
Democrat
(360) 786-7880
Cindy.Ryu@leg.wa.gov

Representative Sharon Tomiko Santos
Democrat
(360) 786-7944
SharonTomiko.Santos@leg.wa.gov

Representative Brandon Vick
Republican
(360) 786-7850
Brandon.Vick@leg.wa.gov

Representative Mike Volz
Republican
(360) 786-7922
Mike.Volz@leg.wa.gov

Representative Amy Walen
Democrat
(360) 786-7848
WALEN_AM@leg.wa.gov

Representative Alex Ybarra
Republican
(360) 786-7808
YBARRA_AL@leg.wa.gov



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

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