Notice of Public Hearing for House Bill 1465 - Update: 10 Year Analysis Complete

Office of Financial Management

Having trouble viewing this email? View it as a Web page.

Bookmark and Share

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.

HB 1465, titled AN ACT Relating to making the estate tax more progressive by exempting small estates, reducing estate taxes on medium estates, increasing the estate tax on larger estates, and addressing equity in homeownership and homelessness, has been scheduled for a public hearing by the House Committee on Finance.

Date and Time: 02/09/2021 1:30PM (Subject to change by the Legislature.)
Location: , Virtual, ,

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

   

   Estate Tax

Total

 

2022

$ 1,500,000

$ 15,500,000

$ 17,000,000

2023

4,500,000

90,400,000

$ 94,900,000

2024

3,000,000

86,500,000

$ 89,500,000

2025

3,000,000

82,300,000

$ 85,300,000

2026

3,000,000

81,300,000

$ 84,300,000

2027

3,000,000

74,400,000

$ 77,400,000

2028

3,000,000

68,600,000

$ 71,600,000

2029

3,000,000

63,900,000

$ 66,900,000

2030

3,000,000

60,300,000

$ 63,300,000

2031

3,000,000

56,900,000

$ 59,900,000

 

Total:

$ 30,000,000

$ 680,100,000

$ 710,100,000


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

Department of Commerce
Department of Revenue


Bill sponsors and contact information:

Representative Tina Orwall, Prime Sponsor
Democrat
(253) 656-5265
tina.orwall@leg.wa.gov

Representative Alex Ramel
Democrat
(360) 786-7970
alex.ramel@leg.wa.gov

Representative Cindy Ryu
Democrat
(206) 307-0769
cindy.ryu@leg.wa.gov

Representative Sharon Wylie
Democrat
(360) 786-7924
Sharon.Wylie@leg.wa.gov

Representative Noel Frame
Democrat
(206) 962-5098
noel.frame@leg.wa.gov

Representative Timm Ormsby
Democrat
(360) 786-7946
timm.ormsby@leg.wa.gov

Representative Javier Valdez
Democrat
(206) 905-8739
javier.valdez@leg.wa.gov

Representative Gerry Pollet
Democrat
(206) 307-0409
gerry.pollet@leg.wa.gov

Representative My-Linh Thai
Democrat
(206) 333-4107
THAI_MY@leg.wa.gov

Representative Frank Chopp
Democrat
(206) 905-6681
frank.chopp@leg.wa.gov

Representative Nicole Macri
Democrat
(206) 333-4228
nicole.macri@leg.wa.gov

Representative Kirsten Harris-Talley
Democrat
(206) 971-1222
Kirsten.Harris-Talley@leg.wa.gov


House Committee on Finance members and contact information:

Representative April Berg
Democrat
(425) 939-8423
April.Berg@leg.wa.gov

Representative Rob Chase
Republican
(360) 786-7984
Rob.Chase@leg.wa.gov

Representative Frank Chopp
Democrat
(206) 905-6681
frank.chopp@leg.wa.gov

Representative Jeremie Dufault
Republican
(509) 728-9174
DUFAULT_JE@leg.wa.gov

Representative Noel Frame
Democrat
(206) 962-5098
noel.frame@leg.wa.gov

Representative Kirsten Harris-Talley
Democrat
(206) 971-1222
Kirsten.Harris-Talley@leg.wa.gov

Representative Melanie Morgan
Democrat
(360) 786-7906
MORGAN_ME@leg.wa.gov

Representative Ed Orcutt
Republican
(360) 786-7990
Ed.Orcutt@leg.wa.gov

Representative Tina Orwall
Democrat
(253) 656-5265
tina.orwall@leg.wa.gov

Representative Alex Ramel
Democrat
(360) 786-7970
alex.ramel@leg.wa.gov

Representative Larry Springer
Democrat
(425) 947-8921
larry.springer@leg.wa.gov

Representative Drew Stokesbary
Republican
(253) 245-1963
drew.stokesbary@leg.wa.gov

Representative My-Linh Thai
Democrat
(206) 333-4107
THAI_MY@leg.wa.gov

Representative Brandon Vick
Republican
(564) 888-2271
brandon.vick@leg.wa.gov

Representative Amy Walen
Democrat
(425) 883-3366
WALEN_AM@leg.wa.gov

Representative Sharon Wylie
Democrat
(360) 786-7924
Sharon.Wylie@leg.wa.gov

Representative Jesse Young
Republican
(360) 786-7964
Jesse.Young@leg.wa.gov



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

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