Notice of Public Hearing and Committee Passage for Second Substitute Senate Bill 5315

Office of the Governor / Office of Financial Management sent this bulletin at 03/27/2021 08:06 PM PDT

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

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 scheduled for a public hearing by the House Committee on Finance.

Date and Time: 03/29/2021 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

Captive Insurer registration fee

Captive Insurer registration renewal fee

Insurance Premium tax

Total

2022

$ 127,500

$ 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 second substitute bill was proposed by:

Senate Committee on Ways & Means
(360) 786-7715

The original bill sponsors and contact information are:

Senator Mark Mullet, Prime Sponsor
Democrat
(360) 786-7608
mark.mullet@leg.wa.gov

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

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 House Committee on Consumer Protection & Business. 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:

Representative Sharon Tomiko Santos
Democrat
(360) 786-7944
sharontomiko.santos@leg.wa.gov

Representative Steve Kirby
Democrat
(360) 786-7996
Steve.Kirby@leg.wa.gov

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

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

Representative Chris Corry
Republican
(509) 571-1048
CORRY_CH@leg.wa.gov

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

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

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

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

Update your subscriptions, modify your password or email address, or stop subscriptions at any time on your Subscriber Preferences Page. You will need to use your email address to log in. If you have questions or problems with the subscription service, please visit subscriberhelp.govdelivery.com.