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