Notice of Committee Passage for Senate Bill 5328 - 10 Year Analysis Complete
Office of the Governor / Office of Financial Management sent this bulletin at 02/24/2025 10:01 PM PST
You 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.
Please note: This email message was sent from a notification-only address. Please do not reply to this message.
SB 5328, titled AN ACT Relating to establishing a new chapter for the licensing and regulation of businesses providing earned wage access services, has been passed by the Senate Committee on Business, Financial Services & Trade. 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 |
Earned Wage Access Assessment Fee |
Earned Wage Access Examination Fee |
Earned Wage Access Licensing Fee |
Total |
|
|
|
|||||
|
2026 |
$0 |
$0 |
$42,000 |
$42,000 |
|
|
2027 |
$186,900 |
$14,400 |
$3,000 |
$204,300 |
|
|
2028 |
$373,800 |
$32,400 |
$3,000 |
$409,200 |
|
|
2029 |
$373,800 |
$32,400 |
$3,000 |
$409,200 |
|
|
2030 |
$373,800 |
$32,400 |
$3,000 |
$409,200 |
|
|
2031 |
$373,800 |
$32,400 |
$3,000 |
$409,200 |
|
|
2032 |
$373,800 |
$32,400 |
$3,000 |
$409,200 |
|
|
2033 |
$373,800 |
$32,400 |
$3,000 |
$409,200 |
|
|
2034 |
$373,800 |
$32,400 |
$3,000 |
$409,200 |
|
|
2035 |
$373,800 |
$32,400 |
$3,000 |
$409,200 |
|
|
|
|||||
|
Total: |
$3,177,300 |
$273,600 |
$69,000 |
$3,519,900 |
|
Ten-year projection prepared in consultation with the following agencies:
Dept of Financial Institutions
The following legislators voted do pass:
Senator John Lovick
Democrat
(360) 786-7686
john.lovick@leg.wa.gov
Senator Bob Hasegawa
Democrat
(360) 786-7616
bob.hasegawa@leg.wa.gov
Senator Claudia Kauffman
Democrat
(360) 786-7692
claudia.kauffman@leg.wa.gov
Senator Derek Stanford
Democrat
(360) 786-7600
derek.stanford@leg.wa.gov
Senator Adrian Cortes
Democrat
(360) 786-7634
Adrian.Cortes@leg.wa.gov
The following legislators voted do not pass:
Senator Jim McCune
Republican
(360) 786-7602
jim.mccune@leg.wa.gov
Senator Phil Fortunato
Republican
(360) 786-7660
phil.fortunato@leg.wa.gov
Senator Perry Dozier
Republican
(360) 786-7630
Perry.Dozier@leg.wa.gov
Senator Jeff Wilson
Republican
(360) 786-7636
Jeff.Wilson@leg.wa.gov
Legislative Bill Information Website:
http://apps.leg.wa.gov/billinfo/
Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp