Notice of Public Hearing for House Bill 1464 - 10 Year Analysis Complete
Office of the Governor / Office of Financial Management sent this bulletin at 02/11/2025 09:30 PM PST
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HB 1464, titled AN ACT Relating to home equity sharing agreements, has been scheduled for a public hearing by the House Committee on Consumer Protection & Business.
Date and Time: 02/14/2025 8:00AM (Subject to change by the Legislature.)
Location: John L. O'Brien Building, House Hearing Rm B and Virtual, Olympia, WA
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 |
Home Equity Sharing Agreement Application Fee |
Home Equity Sharing Agreement Assessment Fee |
Home Equity Sharing Agreement Exam Fee |
Total |
|
|
|
|||||
|
2026 |
$30,000 |
$0 |
$0 |
$30,000 |
|
|
2027 |
$4,500 |
$152,940 |
$21,000 |
$178,440 |
|
|
2028 |
$4,500 |
$345,778 |
$31,500 |
$381,778 |
|
|
2029 |
$4,500 |
$385,677 |
$31,500 |
$421,677 |
|
|
2030 |
$4,500 |
$425,573 |
$31,500 |
$461,573 |
|
|
2031 |
$4,500 |
$465,471 |
$31,500 |
$501,471 |
|
|
2032 |
$4,500 |
$505,368 |
$31,500 |
$541,368 |
|
|
2033 |
$4,500 |
$545,266 |
$31,500 |
$581,266 |
|
|
2034 |
$4,500 |
$585,163 |
$31,500 |
$621,163 |
|
|
2035 |
$4,500 |
$625,091 |
$31,500 |
$661,091 |
|
|
|
|||||
|
Total: |
$70,500 |
$4,036,327 |
$273,000 |
$4,379,827 |
|
Ten-year projection prepared in consultation with the following agencies:
Dept of Financial Institutions
Bill sponsors and contact information:
Representative David Hackney, Prime Sponsor
Democrat
(360) 786-7956
David.Hackney@leg.wa.gov
Representative Amy Walen
Democrat
(360) 786-7848
amy.walen@leg.wa.gov
Representative Sharon Wylie
Democrat
(360) 786-7924
sharon.wylie@leg.wa.gov
House Committee on Consumer Protection & Business members and contact information:
Representative Peter Abbarno
Republican
(360) 786-7896
Peter.Abbarno@leg.wa.gov
Representative Liz Berry
Democrat
(360) 786-7860
Liz.Berry@leg.wa.gov
Representative Chris Corry
Republican
(360) 786-7810
chris.corry@leg.wa.gov
Representative Brandy Donaghy
Democrat
(360) 786-7804
Brandy.Donaghy@leg.wa.gov
Representative Jeremie Dufault
Republican
(360) 786-7874
DUFAULT_JE@leg.wa.gov
Representative Mary Fosse
Democrat
(360) 786-7864
Mary.Fosse@leg.wa.gov
Representative Shelley Kloba
Democrat
(360) 786-7900
shelley.kloba@leg.wa.gov
Representative Stephanie McClintock
Republican
(360) 786-7850
Stephanie.McClintock@leg.wa.gov
Representative Melanie Morgan
Democrat
(360) 786-7906
melanie.morgan@leg.wa.gov
Representative Kristine Reeves
Democrat
(360) 786-7830
kristine.reeves@leg.wa.gov
Representative Cindy Ryu
Democrat
(360) 786-7880
cindy.ryu@leg.wa.gov
Representative Sharon Tomiko Santos
Democrat
(360) 786-7944
sharontomiko.santos@leg.wa.gov
Representative Mike Steele
Republican
(360) 786-7832
mike.steele@leg.wa.gov
Representative Mike Volz
Republican
(360) 786-7922
mike.volz@leg.wa.gov
Representative Amy Walen
Democrat
(360) 786-7848
amy.walen@leg.wa.gov
Legislative Bill Information Website:
http://apps.leg.wa.gov/billinfo/
Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp