Notice of Introduction for Substitute Senate Bill 5493 - 10 Year Analysis Complete
Office of the Governor / Office of Financial Management sent this bulletin at 05/08/2023 10:57 PM PDT
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SSB 5493, titled AN ACT Relating to limiting a business and occupation tax deduction for financial institutions to fund affordable housing, 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:
|
Fiscal |
Business and occupation tax |
|
|
|
||
|
2024 |
$45,900,000 |
|
|
2025 |
$57,500,000 |
|
|
2026 |
$60,100,000 |
|
|
2027 |
$62,800,000 |
|
|
2028 |
$65,500,000 |
|
|
2029 |
$68,500,000 |
|
|
2030 |
$71,500,000 |
|
|
2031 |
$74,700,000 |
|
|
2032 |
$78,000,000 |
|
|
2033 |
$81,500,000 |
|
|
|
||
|
Total: |
$666,000,000 |
|
Ten-year projection prepared in consultation with the following agencies:
Department of Revenue
The substitute bill was proposed by:
Senate Committee on Housing
The original bill sponsors and contact information are:
Legislative Bill Information Website:
http://apps.leg.wa.gov/billinfo/
Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp