Notice of Introduction for Senate Bill 5767 - Update: 10 Year Analysis Complete

Office of Financial Management

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SB 5767, titled AN ACT Relating to funding health care access by imposing an excise tax on the annual compensation paid to certain highly compensated hospital employees, 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
Year

   Hospital excess compensation excise tax

 

2024

$0

2025

$800,000

2026

$900,000

2027

$900,000

2028

$900,000

2029

$1,000,000

2030

$1,000,000

2031

$1,100,000

2032

$1,100,000

2033

$1,200,000

 

Total:

$8,900,000


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

Department of Revenue


Bill sponsors and contact information:

Senator Emily Randall, Prime Sponsor
Democrat
(360) 786-7650
RANDALL_EM@leg.wa.gov

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

Senator Noel Frame
Democrat
(360) 786-7670
noel.frame@leg.wa.gov

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

Senator T'wina Nobles
Democrat
(360) 786-7654
T'wina.Nobles@leg.wa.gov

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

Senator Derek Stanford
Democrat
(360) 786-7600
derek.stanford@leg.wa.gov

Senator Yasmin Trudeau
Democrat
(360) 786-7652
yasmin.trudeau@leg.wa.gov

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

Senator Lisa Wellman
Democrat
(360) 786-7641
lisa.wellman@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