Notice of Introduction for Senate Bill 5386 - Update: 10 Year Analysis Complete

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SB 5386, titled AN ACT Relating to reducing administrative complexity by increasing transparency of revenue flows for activities funded by document recording fees, has been introduced in the Senate. 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:

Department of Commerce:

I-960 Implications - No change to current fee totals:

Section 1 adds a new section that consolidates four existing document recording fees used to fund homelessness and affordable housing into a single fee and consolidates allowable activities. 

Section 2 amends RCW 43.185C.060 removing references to separate fees that are repealed and replaced by a single fee in Section 1 and eliminates an audit of a requirement that was repealed.

Section 3 adds a new section that repeals the separate fees that are replaced by a single fee in Section 1.

Cash Receipts Impact - No change to cash receipt totals:

Section 1 adds a new section that consolidates four existing document recording fees used to fund homelessness and affordable housing into a single fee and consolidates allowable activities. 

Section 2 amends RCW 43.185C.060 removing references to separate fees that are repealed and replaced by a single fee in Section 1 and eliminates an audit of a requirement that was repealed.

Section 3 adds a new section that repeals the separate fees that are replaced by a single fee in Section 1.

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

Department of Commerce


Bill sponsors and contact information:

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

Senator Patty Kuderer
Democrat
(360) 786-7694
patty.kuderer@leg.wa.gov

Senator Rebecca Saldaña
Democrat
(360) 786-7688
rebecca.saldana@leg.wa.gov

Senator Claire Wilson
Democrat
(360) 786-7658
WILSON_CL@leg.wa.gov




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

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