10 Year Analysis Complete for House Bill 1599
Office of the Governor / Office of Financial Management sent this bulletin at 02/18/2025 08:36 PM PST
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UPDATE: The 10 year analysis for HB 1599, titled AN ACT Relating to consumer debt adjusters and debt resolution services providers, 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 |
Debt Resolution Licensing Fee |
Debt Resolution Licensing Renewal Fee |
Fingerprint Processing Fee |
Total |
|
|
|
|||||
|
2026 |
$70,000 |
$0 |
$3,465 |
$73,465 |
|
|
2027 |
$6,000 |
$0 |
$297 |
$6,297 |
|
|
2028 |
$6,000 |
$70,000 |
$297 |
$76,297 |
|
|
2029 |
$6,000 |
$6,000 |
$297 |
$12,297 |
|
|
2030 |
$6,000 |
$76,000 |
$297 |
$82,297 |
|
|
2031 |
$6,000 |
$12,000 |
$297 |
$18,297 |
|
|
2032 |
$6,000 |
$82,000 |
$297 |
$88,297 |
|
|
2033 |
$6,000 |
$18,000 |
$297 |
$24,297 |
|
|
2034 |
$6,000 |
$88,000 |
$297 |
$94,297 |
|
|
2035 |
$6,000 |
$24,000 |
$297 |
$30,297 |
|
|
|
|||||
|
Total: |
$124,000 |
$376,000 |
$6,138 |
$506,138 |
|
Admin Office of the Courts:
The new civil penalty could potentially result in some amount of fee revenue. However, there is no judicial data available to estimate the total amount of fees that would be collected.
Ten-year projection prepared in consultation with the following agencies:
Admin Office of the Courts
Dept of Financial Institutions
Bill sponsors and contact information:
Representative Kristine Reeves, Prime Sponsor
Democrat
(360) 786-7830
kristine.reeves@leg.wa.gov
Representative Chris Corry
Republican
(360) 786-7810
chris.corry@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