Notice of Committee Passage for Engrossed Substitute Senate Bill 5096. PL - Update: Passed Legislature

Office of Financial Management

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ESSB 5096.PL, titled AN ACT Relating to enacting an excise tax on gains from the sale or exchange of certain capital assets, has been passed by the Senate Committee on Ways & Means. 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

   Capital Gains Tax

 

2022

$0

2023

527,000,000

2024

560,000,000

2025

602,000,000

2026

620,000,000

2027

638,000,000

2028

661,000,000

2029

685,000,000

2030

709,000,000

2031

734,000,000

 

Total:

$ 5,736,000,000


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

Department of Revenue

The following legislators voted do pass:

Senator Steve Conway
Democrat
(360) 786-7656
steve.conway@leg.wa.gov

Senator Karen Keiser
Democrat
(360) 786-7664
Karen.Keiser@leg.wa.gov

Senator Sam Hunt
Democrat
(360) 786-7642
Sam.Hunt@leg.wa.gov

Senator Jeannie Darneille
Democrat
(360) 786-7652
DARNEILL_JE@leg.wa.gov

Senator Bob Hasegawa
Democrat
(360) 786-7616
bob.hasegawa@leg.wa.gov

Senator Christine Rolfes
Democrat
(360) 786-7644
christine.rolfes@leg.wa.gov

Senator Jamie Pedersen
Democrat
(360) 786-7628
jamie.pedersen@leg.wa.gov

Senator Marko Liias
Democrat
(360) 786-7640
marko.liias@leg.wa.gov

Senator Reuven Carlyle
Democrat
(360) 786-7670
Reuven.Carlyle@leg.wa.gov

Senator David Frockt
Democrat
(360) 786-7690
david.frockt@leg.wa.gov

Senator June Robinson
Democrat
(360) 786-7674
june.robinson@leg.wa.gov

Senator Lisa Wellman
Democrat
(360) 786-7641
Lisa.Wellman@leg.wa.gov

Senator Manka Dhingra
Democrat
(360) 786-7672
Manka.Dhingra@leg.wa.gov


The following legislators voted to refer the bill without recommendation:

Senator Kevin Van De Wege
Democrat
(360) 786-7646
Kevin.VanDeWege@leg.wa.gov


The following legislators voted do not pass:

Senator Mark Schoesler
Republican
(360) 786-7620
mark.schoesler@leg.wa.gov

Senator Jim Honeyford
Republican
(360) 786-7684
Jim.Honeyford@leg.wa.gov

Senator Judy Warnick
Republican
(360) 786-7624
judith.warnick@leg.wa.gov

Senator Ann Rivers
Republican
(360) 786-7634
ann.rivers@leg.wa.gov

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

Senator Sharon Brown
Republican
(360) 786-7614
Sharon.Brown@leg.wa.gov

Senator Lynda Wilson
Republican
(360) 786-7632
lynda.wilson@leg.wa.gov

Senator Keith Wagoner
Republican
(360) 786-7676
keith.wagoner@leg.wa.gov

Senator Chris Gildon
Republican
(360) 786-7648
GILDON_CH@leg.wa.gov

Senator Ron Muzzall
Republican
(360) 786-7618
MUZZALL_RO@leg.wa.gov


Not voting:

Senator John Braun
Republican
(360) 786-7638
john.braun@leg.wa.gov



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

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