10 Year Analysis Complete for House Bill 1319
Office of the Governor / Office of Financial Management sent this bulletin at 02/03/2025 02:44 PM PST
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.
Please note: This email message was sent from a notification-only address. Please do not reply to this message.
UPDATE: The 10 year analysis for HB 1319, titled AN ACT Relating to enacting a wealth tax on the ownership of stocks, bonds, and other financial intangible property to fund programs and services to benefit Washingtonians, 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 |
New |
|
|
|
||
|
2026 |
$0 |
|
|
2027 |
$3,380,000,000 |
|
|
2028 |
$3,475,000,000 |
|
|
2029 |
$3,436,000,000 |
|
|
2030 |
$3,432,000,000 |
|
|
2031 |
$3,567,000,000 |
|
|
2032 |
$3,720,000,000 |
|
|
2033 |
$3,878,000,000 |
|
|
2034 |
$4,061,000,000 |
|
|
2035 |
$4,239,000,000 |
|
|
|
||
|
Total: |
$33,188,000,000 |
|
Ten-year projection prepared in consultation with the following agencies:
Department of Revenue
Department of Commerce
Bill sponsors and contact information:
Representative Chipalo Street, Prime Sponsor
Democrat
(360) 786-7838
Chipalo.Street@leg.wa.gov
Representative Timm Ormsby
Democrat
(360) 786-7946
timm.ormsby@leg.wa.gov
Representative Nicole Macri
Democrat
(360) 786-7826
nicole.macri@leg.wa.gov
Legislative Bill Information Website:
http://apps.leg.wa.gov/billinfo/
Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp