10 Year Analysis Complete for Senate Bill 5794
Office of the Governor / Office of Financial Management sent this bulletin at 04/16/2025 04:47 PM PDT
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UPDATE: The 10 year analysis for SB 5794, titled AN ACT Relating to improving the administration of tax preferences by adopting recommendations from the tax preference performance review process, eliminating obsolete tax preferences, clarifying legislative
intent, and addressing changes in constitutional law, 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 |
Aircraft Excise Tax |
Business and occupation |
Business and occupation tax |
Public utility tax |
Retail sales tax |
Total |
|
|
|
|||||||
|
2026 |
$24,000 |
$10,580,000 |
$76,740,000 |
$20,500,000 |
$7,490,000 |
$115,334,000 |
|
|
2027 |
$24,000 |
$26,530,000 |
$192,800,000 |
$51,010,000 |
$17,591,000 |
$287,955,000 |
|
|
2028 |
$24,000 |
$27,630,000 |
$200,760,000 |
$52,340,000 |
$16,479,000 |
$297,233,000 |
|
|
2029 |
$24,000 |
$28,850,000 |
$208,880,000 |
$53,950,000 |
$15,497,000 |
$307,201,000 |
|
|
2030 |
$24,000 |
$29,990,000 |
$217,370,000 |
$55,620,000 |
$15,454,000 |
$318,458,000 |
|
|
2031 |
$24,000 |
$31,170,000 |
$226,220,000 |
$57,340,000 |
$15,441,000 |
$330,195,000 |
|
|
2032 |
$24,000 |
$32,480,000 |
$235,450,000 |
$59,120,000 |
$15,428,000 |
$342,502,000 |
|
|
2033 |
$24,000 |
$33,820,000 |
$245,030,000 |
$60,950,000 |
$15,415,000 |
$355,239,000 |
|
|
2034 |
$24,000 |
$35,200,000 |
$255,000,000 |
$62,850,000 |
$15,402,000 |
$368,476,000 |
|
|
2035 |
$24,000 |
$36,700,000 |
$265,350,000 |
$64,810,000 |
$15,389,000 |
$382,273,000 |
|
|
|
|||||||
|
Total: |
$240,000 |
$292,950,000 |
$2,123,600,000 |
$538,490,000 |
$149,586,000 |
$3,104,866,000 |
|
Ten-year projection prepared in consultation with the following agencies:
Department of Revenue
Department of Transportation
Bill sponsors and contact information:
Legislative Bill Information Website:
http://apps.leg.wa.gov/billinfo/
Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp