Notice of Introduction for Senate Bill 5266 - Update: 10 Year Analysis Complete
Office of the Governor / Office of Financial Management sent this bulletin at 03/15/2021 09:52 PM PDT
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SB 5266, titled AN ACT Relating to protecting public health and safety by enhancing the regulation of products sold to adults age 21 and over, 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 |
Business & Occupation Tax |
Retail Sales and Use Tax |
Retail Sales Tax |
Vapor Product Delivery Sales License Additional Fee |
Vapor Product Manufacturer’s License Fee |
Vapor Tax |
Total |
|
|
|
||||||||
|
2022 |
$ -85,000 |
$ -2,000 |
$ -1,170,000 |
$ 38,000 |
$ 55,750 |
$ -2,744,000 |
$ -3,907,250 |
|
|
2023 |
-200,000 |
-4,000 |
-2,753,000 |
38,000 |
55,750 |
-6,456,000 |
$ -9,319,250 |
|
|
2024 |
-196,000 |
-4,000 |
-2,698,000 |
38,000 |
55,750 |
-6,326,000 |
$ -9,130,250 |
|
|
2025 |
-192,000 |
-4,000 |
-2,644,000 |
38,000 |
55,750 |
-6,200,000 |
$ -8,946,250 |
|
|
2026 |
-188,000 |
-4,000 |
-2,591,000 |
38,000 |
55,750 |
-6,076,000 |
$ -8,765,250 |
|
|
2027 |
-184,000 |
-4,000 |
-2,539,000 |
38,000 |
55,750 |
-5,954,000 |
$ -8,587,250 |
|
|
2028 |
-181,000 |
-4,000 |
-2,488,000 |
38,000 |
55,750 |
-5,836,000 |
$ -8,415,250 |
|
|
2029 |
-177,000 |
-4,000 |
-2,439,000 |
38,000 |
55,750 |
-5,718,000 |
$ -8,244,250 |
|
|
2030 |
-173,000 |
-4,000 |
-2,390,000 |
38,000 |
55,750 |
-5,604,000 |
$ -8,077,250 |
|
|
2031 |
-170,000 |
-4,000 |
-2,342,000 |
38,000 |
55,750 |
-5,492,000 |
$ -7,914,250 |
|
|
|
||||||||
|
Total: |
$ -1,746,000 |
$ -38,000 |
$ -24,054,000 |
$ 380,000 |
$ 557,500 |
$ -56,406,000 |
$ -81,306,500 |
|
Ten-year projection prepared in consultation with the following agencies:
Department of Revenue
Liquor and Cannabis Board
Bill sponsors and contact information:
Senator Patty Kuderer, Prime Sponsor
Democrat
(360) 786-7694
patty.kuderer@leg.wa.gov
Senator Claire Wilson
Democrat
(360) 786-7658
WILSON_CL@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 Rebecca Saldaña
Democrat
(360) 786-7688
rebecca.saldana@leg.wa.gov
Senator Derek Stanford
Democrat
(360) 786-7600
Derek.Stanford@leg.wa.gov
Legislative Bill Information Website:
http://apps.leg.wa.gov/billinfo/
Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp