10 Year Analysis Complete for House Bill 1506
Office of the Governor / Office of Financial Management sent this bulletin at 02/03/2025 04:56 PM PST
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UPDATE: The 10 year analysis for HB 1506, titled AN ACT Relating to imposing a business and occupation tax on state-chartered credit unions that merge with a commercial bank, 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 |
$2,000,000 |
|
|
2027 |
$7,700,000 |
|
|
2028 |
$10,600,000 |
|
|
2029 |
$13,900,000 |
|
|
2030 |
$17,300,000 |
|
|
2031 |
$21,100,000 |
|
|
2032 |
$25,100,000 |
|
|
2033 |
$29,400,000 |
|
|
2034 |
$34,100,000 |
|
|
2035 |
$39,100,000 |
|
|
|
||
|
Total: |
$200,300,000 |
|
Ten-year projection prepared in consultation with the following agencies:
Department of Revenue
Bill sponsors and contact information:
Representative Amy Walen, Prime Sponsor
Democrat
(360) 786-7848
amy.walen@leg.wa.gov
Representative Timm Ormsby
Democrat
(360) 786-7946
timm.ormsby@leg.wa.gov
Representative Shaun Scott
Democrat
(360) 786-7920
Shaun.Scott@leg.wa.gov
Legislative Bill Information Website:
http://apps.leg.wa.gov/billinfo/
Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp