Notice of Completion: The 10 Year Analysis for House Bill 1111 is Complete
Office of the Governor / Office of Financial Management sent this bulletin at 03/22/2022 09:51 AM PDT
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UPDATE: The 10 year analysis for HB 1111, titled AN ACT Relating to investment income tax deductions, has been completed. 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 |
B&O Tax |
|
|
|
||
|
2022 |
$0 |
|
|
2023 |
$18,100,000 |
|
|
2024 |
$29,000,000 |
|
|
2025 |
$29,700,000 |
|
|
2026 |
$30,700,000 |
|
|
2027 |
$32,100,000 |
|
|
2028 |
$33,400,000 |
|
|
2029 |
$34,800,000 |
|
|
2030 |
$36,200,000 |
|
|
2031 |
$37,700,000 |
|
|
|
||
|
Total: |
$281,700,000 |
|
Ten-year projection prepared in consultation with the following agencies:
Department of Revenue
Bill sponsors and contact information:
Representative Eileen Cody, Prime Sponsor
Democrat
(564) 888-2493
eileen.cody@leg.wa.gov
Representative Nicole Macri
Democrat
(206) 333-4228
nicole.macri@leg.wa.gov
Representative Gerry Pollet
Democrat
(206) 307-0409
gerry.pollet@leg.wa.gov
Legislative Bill Information Website:
http://apps.leg.wa.gov/billinfo/
Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp