Notice of Public Hearing for House Bill 1496 - Update: 10 Year Analysis Complete

Office of Financial Management

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HB 1496, titled AN ACT Relating to creating a more progressive tax system in Washington by enacting an excise tax on sales and extraordinary profits of high valued assets, has been scheduled for a public hearing by the House Committee on Finance.

Date and Time: 02/11/2021 8:00AM (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

   Business and Occupation Tax

   Capital Gains Tax

Total

 

2022

$

$

$

2023

-105,000,000

940,000,000

$ 835,000,000

2024

-111,000,000

1,002,000,000

$ 891,000,000

2025

-114,000,000

1,026,000,000

$ 912,000,000

2026

-118,000,000

1,060,000,000

$ 942,000,000

2027

-122,000,000

1,097,000,000

$ 975,000,000

2028

-127,000,000

1,140,000,000

$ 1,013,000,000

2029

-132,000,000

1,187,000,000

$ 1,055,000,000

2030

-137,000,000

1,233,000,000

$ 1,096,000,000

2031

-143,000,000

1,283,000,000

$ 1,140,000,000

 

Total:

$ -1,109,000,000

$ 9,968,000,000

$ 8,859,000,000


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

Department of Revenue


Bill sponsors and contact information:

Representative Tana Senn, Prime Sponsor
Democrat
(360) 786-7894
tana.senn@leg.wa.gov

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

Representative Lauren Davis
Democrat
(206) 673-3501
DAVIS_LA@leg.wa.gov

Representative Jesse Johnson
Democrat
(206) 333-2989
JOHNSON_JE@leg.wa.gov

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

Representative Steve Bergquist
Democrat
(253) 214-3275
steve.bergquist@leg.wa.gov

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

Representative Mia Gregerson
Democrat
(253) 981-6278
mia.gregerson@leg.wa.gov

Representative Tarra Simmons
Democrat
(360) 930-8127
Tarra.Simmons@leg.wa.gov

Representative Mike Sells
Democrat
(360) 255-0152
mike.sells@leg.wa.gov

Representative Strom Peterson
Democrat
(564) 888-2336
strom.peterson@leg.wa.gov

Representative Jessica Bateman
Democrat
(360) 545-9513
jessica.bateman@leg.wa.gov

Representative Liz Berry
Democrat
(206) 709-5260
Liz.Berry@leg.wa.gov

Representative Debra Lekanoff
Democrat
(360) 419-5266
LEKANOFF_DE@leg.wa.gov

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

Representative Joe Fitzgibbon
Democrat
(564) 888-2362
joe.fitzgibbon@leg.wa.gov

Representative Davina Duerr
Democrat
(425) 318-1303
DUERR_DA@leg.wa.gov

Representative David Hackney
Democrat
(206) 490-0914
David.Hackney@leg.wa.gov

Representative Vandana Slatter
Democrat
(425) 458-7240
vandana.slatter@leg.wa.gov

Representative Steve Kirby
Democrat
(360) 786-7996
Steve.Kirby@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 Javier Valdez
Democrat
(206) 905-8739
javier.valdez@leg.wa.gov

Representative Marcus Riccelli
Democrat
(509) 866-4954
marcus.riccelli@leg.wa.gov

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

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

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

Representative Monica Jurado Stonier
Democrat
(360) 786-7872
monica.stonier@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