Notice of Committee Passage for Second Substitute Senate Bill 5315

Office of the Governor / Office of Financial Management sent this bulletin at 02/17/2021 10:22 PM PST

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2SSB 5315, titled AN ACT Relating to captive insurance, has been passed by the Senate Committee on Financial Institutions, Economic Development & Trade. 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

Captive Insurer registration fee

Captive Insurer registration renewal fee

Insurance Premium tax

Total

2022

$ 127,500

$ 0

$ 31,740,000

$31,867,500

2023

127,500

2,200,000

$ 2,327,500

2024

127,500

2,200,000

$ 2,327,500

2025

127,500

2,200,000

$ 2,327,500

2026

127,500

2,200,000

$ 2,327,500

2027

127,500

2,200,000

$ 2,327,500

2028

127,500

2,200,000

$ 2,327,500

2029

127,500

2,200,000

$ 2,327,500

2030

127,500

2,200,000

$ 2,327,500

2031

127,500

2,200,000

$ 2,327,500

Total:

$ 127,500

$ 1,147,500

$ 51,540,000

$52,815,000

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

Office of Insurance Commissioner

The following legislators voted do pass:

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

Senator Steve Hobbs
Democrat
(360) 786-7686
steve.hobbs@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 Sharon Brown
Republican
(360) 786-7614
Sharon.Brown@leg.wa.gov

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

Senator Perry Dozier
Republican
(360) 786-7630
Perry.Dozier@leg.wa.gov

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

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

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.

2SSB 5315, titled AN ACT Relating to captive insurance, 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:

Fiscal
Year

Captive Insurer registration fee

Captive Insurer registration renewal fee

Insurance Premium tax

Total

2022

$ 127,500

$ 0

$ 31,740,000

$31,867,500

2023

127,500

2,200,000

$ 2,327,500

2024

127,500

2,200,000

$ 2,327,500

2025

127,500

2,200,000

$ 2,327,500

2026

127,500

2,200,000

$ 2,327,500

2027

127,500

2,200,000

$ 2,327,500

2028

127,500

2,200,000

$ 2,327,500

2029

127,500

2,200,000

$ 2,327,500

2030

127,500

2,200,000

$ 2,327,500

2031

127,500

2,200,000

$ 2,327,500

Total:

$ 127,500

$ 1,147,500

$ 51,540,000

$52,815,000

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

Office of Insurance Commissioner

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 Jim Honeyford
Republican
(360) 786-7684
Jim.Honeyford@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 Christine Rolfes
Democrat
(360) 786-7644
christine.rolfes@leg.wa.gov

Senator Jamie Pedersen
Democrat
(360) 786-7628
jamie.pedersen@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 Reuven Carlyle
Democrat
(360) 786-7670
Reuven.Carlyle@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 Sharon Brown
Republican
(360) 786-7614
Sharon.Brown@leg.wa.gov

Senator June Robinson
Democrat
(360) 786-7674
june.robinson@leg.wa.gov

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

Senator Lisa Wellman
Democrat
(360) 786-7641
Lisa.Wellman@leg.wa.gov

Senator Manka Dhingra
Democrat
(360) 786-7672
Manka.Dhingra@leg.wa.gov

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

Senator Chris Gildon
Republican
(360) 786-7648
GILDON_CH@leg.wa.gov

Senator Ron Muzzall
Republican
(360) 786-7618
MUZZALL_RO@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 Marko Liias
Democrat
(360) 786-7640
Marko.Liias@leg.wa.gov

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

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

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