10 Year Analysis Complete for House Bill 1560
Office of the Governor / Office of Financial Management sent this bulletin at 02/03/2025 05:11 PM PSTYou 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.
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UPDATE: The 10 year analysis for HB 1560, 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 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 |
Excess compensation paid tax (NEW) |
|
|
|
||
|
2026 |
$0 |
|
|
2027 |
$8,100,000 |
|
|
2028 |
$8,500,000 |
|
|
2029 |
$8,800,000 |
|
|
2030 |
$9,200,000 |
|
|
2031 |
$9,600,000 |
|
|
2032 |
$10,000,000 |
|
|
2033 |
$10,400,000 |
|
|
2034 |
$10,900,000 |
|
|
2035 |
$11,400,000 |
|
|
|
||
|
Total: |
$86,900,000 |
|
Ten-year projection prepared in consultation with the following agencies:
Department of Revenue
Bill sponsors and contact information:
Representative Julia Reed, Prime Sponsor
Democrat
(360) 786-7814
Julia.Reed@leg.wa.gov
Representative Mary Fosse
Democrat
(360) 786-7864
Mary.Fosse@leg.wa.gov
Representative Sharlett Mena
Democrat
(360) 786-7996
sharlett.mena@leg.wa.gov
Representative Darya Farivar
Democrat
(360) 786-7818
Darya.Farivar@leg.wa.gov
Representative Mia Gregerson
Democrat
(360) 786-7868
mia.gregerson@leg.wa.gov
Representative Lisa Parshley
Democrat
(360) 786-7992
Lisa.Parshley@leg.wa.gov
Representative Nicole Macri
Democrat
(360) 786-7826
nicole.macri@leg.wa.gov
Representative Liz Berry
Democrat
(360) 786-7860
Liz.Berry@leg.wa.gov
Representative Edwin Obras
Democrat
(360) 786-7834
Edwin.Obras@leg.wa.gov
Representative Cindy Ryu
Democrat
(360) 786-7880
cindy.ryu@leg.wa.gov
Representative Shaun Scott
Democrat
(360) 786-7920
Shaun.Scott@leg.wa.gov
Representative Strom Peterson
Democrat
(360) 786-7950
strom.peterson@leg.wa.gov
Representative Shelley Kloba
Democrat
(360) 786-7900
shelley.kloba@leg.wa.gov
Representative Greg Nance
Democrat
(360) 786-7842
Greg.Nance@leg.wa.gov
Representative Alex Ramel
Democrat
(360) 786-7970
alex.ramel@leg.wa.gov
Representative Osman Salahuddin
Democrat
(360) 786-7936
Osman.Salahuddin@leg.wa.gov
Representative Timm Ormsby
Democrat
(360) 786-7946
timm.ormsby@leg.wa.gov
Representative Gerry Pollet
Democrat
(360) 786-7886
gerry.pollet@leg.wa.gov
Representative Natasha Hill
Democrat
(360) 786-7888
Natasha.Hill@leg.wa.gov
Representative Tarra Simmons
Democrat
(360) 786-7934
Tarra.Simmons@leg.wa.gov
Legislative Bill Information Website:
http://apps.leg.wa.gov/billinfo/
Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp
