10 Year Analysis Complete for House Bill 1320
Office of the Governor / Office of Financial Management sent this bulletin at 02/03/2025 02:50 PM PST
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UPDATE: The 10 year analysis for HB 1320, titled AN ACT Relating to modifying business and occupation tax rates 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 |
Business and occupation tax |
|
|
|
||
|
2026 |
$382,000,000 |
|
|
2027 |
$663,000,000 |
|
|
2028 |
$779,000,000 |
|
|
2029 |
$810,000,000 |
|
|
2030 |
$842,000,000 |
|
|
2031 |
$875,000,000 |
|
|
2032 |
$910,000,000 |
|
|
2033 |
$945,000,000 |
|
|
2034 |
$982,000,000 |
|
|
2035 |
$1,021,000,000 |
|
|
|
||
|
Total: |
$8,209,000,000 |
|
Ten-year projection prepared in consultation with the following agencies:
Department of Revenue
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
Representative Beth Doglio
Democrat
(360) 786-7940
beth.doglio@leg.wa.gov
Legislative Bill Information Website:
http://apps.leg.wa.gov/billinfo/
Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp