Notice of Committee Passage for House Bill 1858 - 10 Year Analysis Complete
Office of the Governor / Office of Financial Management sent this bulletin at 04/09/2025 01:28 PM PDT
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HB 1858, titled AN ACT Relating to eliminating the exemption for assignments or substitutions of previously recorded deeds of trust from the document recording fee and the covenant homeownership program assessment, has been passed by the Senate
Committee on Ways & Means. 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 |
Covenant Homeownership Program Assessment |
Document Recording Surcharge |
Total |
|
|
|
||||
|
2026 |
$13,723,100 |
$17,328,159 |
$31,051,259 |
|
|
2027 |
$13,723,100 |
$17,328,159 |
$31,051,259 |
|
|
2028 |
$13,723,100 |
$17,328,159 |
$31,051,259 |
|
|
2029 |
$13,723,100 |
$17,328,159 |
$31,051,259 |
|
|
2030 |
$13,723,100 |
$17,328,159 |
$31,051,259 |
|
|
2031 |
$13,723,100 |
$17,328,159 |
$31,051,259 |
|
|
2032 |
$13,723,100 |
$17,328,159 |
$31,051,259 |
|
|
2033 |
$13,723,100 |
$17,328,159 |
$31,051,259 |
|
|
2034 |
$13,723,100 |
$17,328,159 |
$31,051,259 |
|
|
2035 |
$13,723,100 |
$17,328,159 |
$31,051,259 |
|
|
|
||||
|
Total: |
$137,231,000 |
$173,281,590 |
$310,512,590 |
|
Ten-year projection prepared in consultation with the following agencies:
Department of Commerce
The following legislators voted do pass:
Senator Steve Conway
Democrat
(360) 786-7656
steve.conway@leg.wa.gov
Senator Bob Hasegawa
Democrat
(360) 786-7616
bob.hasegawa@leg.wa.gov
Senator Jamie Pedersen
Democrat
(360) 786-7628
jamie.pedersen@leg.wa.gov
Senator Claudia Kauffman
Democrat
(360) 786-7692
claudia.kauffman@leg.wa.gov
Senator Marcus Riccelli
Democrat
(360) 786-7604
marcus.riccelli@leg.wa.gov
Senator Derek Stanford
Democrat
(360) 786-7600
derek.stanford@leg.wa.gov
Senator Drew Hansen
Democrat
(360) 786-7644
drew.hansen@leg.wa.gov
Senator Annette Cleveland
Democrat
(360) 786-7696
annette.cleveland@leg.wa.gov
Senator June Robinson
Democrat
(360) 786-7674
june.robinson@leg.wa.gov
Senator Yasmin Trudeau
Democrat
(360) 786-7652
yasmin.trudeau@leg.wa.gov
Senator Noel Frame
Democrat
(360) 786-7670
noel.frame@leg.wa.gov
Senator Lisa Wellman
Democrat
(360) 786-7641
lisa.wellman@leg.wa.gov
Senator Rebecca Saldaña
Democrat
(360) 786-7688
rebecca.saldana@leg.wa.gov
Senator Manka Dhingra
Democrat
(360) 786-7672
manka.dhingra@leg.wa.gov
Senator Claire Wilson
Democrat
(360) 786-7658
claire.wilson@leg.wa.gov
The following legislators voted do not pass:
Senator Mark Schoesler
Republican
(360) 786-7620
mark.schoesler@leg.wa.gov
Senator Judy Warnick
Republican
(360) 786-7624
judith.warnick@leg.wa.gov
Senator John Braun
Republican
(360) 786-7638
john.braun@leg.wa.gov
Senator Keith Wagoner
Republican
(360) 786-7676
keith.wagoner@leg.wa.gov
Senator Chris Gildon
Republican
(360) 786-7648
chris.gildon@leg.wa.gov
Senator Ron Muzzall
Republican
(360) 786-7618
ron.muzzall@leg.wa.gov
Senator Perry Dozier
Republican
(360) 786-7630
Perry.Dozier@leg.wa.gov
Senator Nikki Torres
Republican
(360) 786-7684
Nikki.Torres@leg.wa.gov
Not voting:
Senator Matt Boehnke
Republican
(360) 786-7614
matt.boehnke@leg.wa.gov
Legislative Bill Information Website:
http://apps.leg.wa.gov/billinfo/
Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp