10 Year Analysis Complete for Engrossed Substitute Senate Bill 5794.PL - UPDATE
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UPDATE: The 10 year analysis for ESSB 5794.PL, 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 |
Business and Occupation Tax |
Public Utilities Tax |
Retail Sales Tax |
Total |
|
|
|
|||||
|
2026 |
$32,260,000 |
$1,040,000 |
$6,810,000 |
$40,110,000 |
|
|
2027 |
$89,650,000 |
$2,500,000 |
$16,230,000 |
$108,380,000 |
|
|
2028 |
$96,060,000 |
$2,500,000 |
$16,226,000 |
$114,786,000 |
|
|
2029 |
$103,260,000 |
$2,500,000 |
$16,226,000 |
$121,986,000 |
|
|
2030 |
$110,460,000 |
$2,500,000 |
$16,226,000 |
$129,186,000 |
|
|
2031 |
$118,260,000 |
$2,500,000 |
$16,226,000 |
$136,986,000 |
|
|
2032 |
$126,460,000 |
$2,500,000 |
$16,226,000 |
$145,186,000 |
|
|
2033 |
$135,270,000 |
$2,500,000 |
$16,226,000 |
$153,996,000 |
|
|
2034 |
$144,570,000 |
$2,500,000 |
$16,226,000 |
$163,296,000 |
|
|
2035 |
$154,470,000 |
$2,500,000 |
$16,226,000 |
$173,196,000 |
|
|
|
|||||
|
Total: |
$1,110,720,000 |
$23,540,000 |
$152,848,000 |
$1,287,108,000 |
|
Ten-year projection prepared in consultation with the following agencies:
Department of Revenue
Department of Commerce
This engrossed bill is proposed by the Senate.
The substitute bill was proposed by:
The original bill sponsors and contact information are:
Senator Jesse Salomon, Prime Sponsor
Democrat
(360) 786-7662
jesse.salomon@leg.wa.gov
Senator Liz Lovelett
Democrat
(360) 786-7678
liz.lovelett@leg.wa.gov
Senator Emily Alvarado
Democrat
(360) 786-7667
Emily.Alvarado@leg.wa.gov
Senator Jessica Bateman
Democrat
(360) 786-7642
jessica.bateman@leg.wa.gov
Senator Manka Dhingra
Democrat
(360) 786-7672
manka.dhingra@leg.wa.gov
Senator Noel Frame
Democrat
(360) 786-7670
noel.frame@leg.wa.gov
Senator Bob Hasegawa
Democrat
(360) 786-7616
bob.hasegawa@leg.wa.gov
Senator T'wina Nobles
Democrat
(360) 786-7654
T'wina.Nobles@leg.wa.gov
Senator Bill Ramos
Democrat
(360) 786-7608
bill.ramos@leg.wa.gov
Senator Marcus Riccelli
Democrat
(360) 786-7604
marcus.riccelli@leg.wa.gov
Senator Yasmin Trudeau
Democrat
(360) 786-7652
yasmin.trudeau@leg.wa.gov
Senator Lisa Wellman
Democrat
(360) 786-7641
lisa.wellman@leg.wa.gov
Legislative Bill Information Website:
http://apps.leg.wa.gov/billinfo/
Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp