Notice of Introduction for Senate Bill 5426 - Update: 10 Year Analysis Completed
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SB 5426, titled AN ACT Relating to improving the equity of Washington state's tax code by creating the Washington state wealth tax and taxing extraordinary financial intangible assets, has been introduced in the Senate. 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 |
Wealth Tax |
|
|
||
2022 |
$ |
|
2023 |
0 |
|
2024 |
2,424,000,000 |
|
2025 |
2,525,000,000 |
|
2026 |
2,451,000,000 |
|
2027 |
2,379,000,000 |
|
2028 |
2,316,000,000 |
|
2029 |
2,257,000,000 |
|
2030 |
2,200,000,000 |
|
2031 |
2,144,000,000 |
|
|
||
Total: |
$ 18,696,000,000 |
Ten-year projection prepared in consultation with the following agencies:
Department of Revenue
Bill sponsors and contact information:
Senator Sam Hunt, Prime Sponsor
Democrat
(360) 786-7642
Sam.Hunt@leg.wa.gov
Senator Steve Conway
Democrat
(360) 786-7656
steve.conway@leg.wa.gov
Senator Mona Das
Democrat
(360) 786-7692
DAS_MO@leg.wa.gov
Senator Manka Dhingra
Democrat
(360) 786-7672
Manka.Dhingra@leg.wa.gov
Senator Bob Hasegawa
Democrat
(360) 786-7616
bob.hasegawa@leg.wa.gov
Senator Karen Keiser
Democrat
(360) 786-7664
Karen.Keiser@leg.wa.gov
Senator Patty Kuderer
Democrat
(360) 786-7694
patty.kuderer@leg.wa.gov
Senator Liz Lovelett
Democrat
(360) 786-7678
Liz.Lovelett@leg.wa.gov
Senator Joe Nguyen
Democrat
(360) 786-7667
NGUYEN_JO@leg.wa.gov
Senator Rebecca Saldaña
Democrat
(360) 786-7688
rebecca.saldana@leg.wa.gov
Senator Derek Stanford
Democrat
(360) 786-7600
Derek.Stanford@leg.wa.gov
Senator Claire Wilson
Democrat
(360) 786-7658
WILSON_CL@leg.wa.gov
Legislative Bill Information Website:
http://apps.leg.wa.gov/billinfo/
Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp