10 Year Analysis Complete for Engrossed Substitute Senate Bill 5814.PL - UPDATE
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UPDATE: The 10 year analysis for ESSB 5814.PL, titled AN ACT Relating to funding public schools, health care, social services, and other programs and services to benefit Washingtonians by modifying the application and administration of certain excise
taxes, 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 |
Other tobacco products tax |
Retail sales tax |
Vapor tax |
Total |
|
|
|
||||||
|
2026 |
($107,400,000) |
$32,200,000 |
$504,802,000 |
($7,600,000) |
$422,002,000 |
|
|
2027 |
($170,970,000) |
$79,600,000 |
$810,619,000 |
($18,400,000) |
$700,849,000 |
|
|
2028 |
($178,445,000) |
$82,300,000 |
$848,281,000 |
($18,400,000) |
$733,736,000 |
|
|
2029 |
($185,735,000) |
$85,200,000 |
$884,907,000 |
($18,400,000) |
$765,972,000 |
|
|
2030 |
($193,300,000) |
$88,500,000 |
$922,543,000 |
($18,400,000) |
$799,343,000 |
|
|
2031 |
($201,180,000) |
$92,000,000 |
$962,361,000 |
($18,400,000) |
$834,781,000 |
|
|
2032 |
($209,455,000) |
$96,000,000 |
$1,003,822,000 |
($18,400,000) |
$871,967,000 |
|
|
2033 |
($218,085,000) |
$100,300,000 |
$1,047,178,000 |
($18,400,000) |
$910,993,000 |
|
|
2034 |
($226,840,000) |
$105,000,000 |
$1,092,696,000 |
($18,400,000) |
$952,456,000 |
|
|
2035 |
($236,090,000) |
$110,200,000 |
$1,143,838,000 |
($18,400,000) |
$999,548,000 |
|
|
|
||||||
|
Total: |
($1,927,500,000) |
$871,300,000 |
$9,221,047,000 |
($173,200,000) |
$7,991,647,000 |
|
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 Noel Frame, Prime Sponsor
Democrat
(360) 786-7670
noel.frame@leg.wa.gov
Senator Yasmin Trudeau
Democrat
(360) 786-7652
yasmin.trudeau@leg.wa.gov
Senator Emily Alvarado
Democrat
(360) 786-7667
Emily.Alvarado@leg.wa.gov
Senator T'wina Nobles
Democrat
(360) 786-7654
T'wina.Nobles@leg.wa.gov
Senator Jamie Pedersen
Democrat
(360) 786-7628
jamie.pedersen@leg.wa.gov
Senator Javier Valdez
Democrat
(360) 786-7690
javier.valdez@leg.wa.gov
Senator Claire Wilson
Democrat
(360) 786-7658
claire.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