Notice of Committee Passage for House Bill 1703 - 10 Year Analysis Complete

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HB 1703, titled AN ACT Relating to establishing an equine industry tax credit, allowing the horse racing commission to impose a fee, and using equine industry sales tax revenues for federal regulatory compliance, has been passed by the House Committee on Finance. 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:

Washington Horse Racing Commission:

While Section 1 of the bill authorizes the Horse Racing Commission to impose a fee for the sake of collecting the funds needed to pay fees charged by the Federal Horseracing Integrity and Safety Authority, the need to do so would only arise if the transfers stipulated under Section 3 of the bill are insufficient to pay the Federal fees.  At present and for the foreseeable future, the Commission does not anticipate needing to impose this fee on the horse racing industry.  If and until circumstances change, the agency will see no new receipts as result of this legislation.

Section 3 prescribes an annual transfer of existing sales tax revenue to the newly created WA Equine Industry Federal Regulatory Account.  As the sales tax to be transferred is a portion of existing sales tax already receipted and accounted for by the Department of Revenue and is subject to appropriation, it is not considered new receipts/revenue for the sake of this analysis.

Ten-year projection prepared in consultation with the following agencies:

Washington Horse Racing Commission

The following legislators voted do pass:

Representative Sharon Tomiko Santos
Democrat
(360) 786-7944
sharontomiko.santos@leg.wa.gov

Representative Ed Orcutt
Republican
(360) 786-7990
ed.orcutt@leg.wa.gov

Representative Larry Springer
Democrat
(360) 786-7822
larry.springer@leg.wa.gov

Representative Sharon Wylie
Democrat
(360) 786-7924
sharon.wylie@leg.wa.gov

Representative Sharlett Mena
Democrat
(360) 786-7996
sharlett.mena@leg.wa.gov

Representative Amy Walen
Democrat
(360) 786-7848
amy.walen@leg.wa.gov

Representative Alex Ramel
Democrat
(360) 786-7970
alex.ramel@leg.wa.gov

Representative Rob Chase
Republican
(360) 786-7984
Rob.Chase@leg.wa.gov

Representative Cyndy Jacobsen
Republican
(360) 786-7968
Cyndy.Jacobsen@leg.wa.gov

Representative April Berg
Democrat
(360) 786-7892
April.Berg@leg.wa.gov

Representative Chipalo Street
Democrat
(360) 786-7838
Chipalo.Street@leg.wa.gov

Representative Hunter Abell
Republican
(360) 786-7988
Hunter.Abell@leg.wa.gov

Representative Lisa Parshley
Democrat
(360) 786-7992
Lisa.Parshley@leg.wa.gov

Representative Joshua Penner
Republican
(360) 786-7866
Joshua.Penner@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