Notice of Introduction for Senate Bill 5469 - Update: 10 Year Analysis Complete

Office of the Governor / Office of Financial Management sent this bulletin at 05/08/2023 04:38 PM PDT

Office of Financial Management

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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.

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SB 5469, titled AN ACT Relating to creating the covenant homeownership account and program to address the history of housing discrimination due to racially restrictive real estate covenants in Washington state, 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:
Indeterminate impact under I-960.  Bill introduces a $100 document recording fee with several exclusions cited. The department of commerce (department) assumes revenue of $50,000,000 in FY24 and $100,000,000 per fiscal year thereafter.
 



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

Department of Commerce
Department of Commerce


Bill sponsors and contact information:

Senator John Lovick, Prime Sponsor
Democrat
(360) 786-7686
john.lovick@leg.wa.gov

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

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

Senator Liz Lovelett
Democrat
(360) 786-7678
liz.lovelett@leg.wa.gov

Senator Joe Nguyen
Democrat
(360) 786-7667
NGUYEN_JO@leg.wa.gov

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

Senator Javier Valdez
Democrat
(360) 786-7690
javier.valdez@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