Notice of Introduction for House Bill 2291 - Update: 10 Year Analysis Complete

Office of Financial Management

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UPDATE: The 10 year analysis for HB 2291, titled AN ACT Relating to the kratom consumer protection act, 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
Year

   Business and Occupation Tax

   Kratom Excise Tax

   Retail Sales Tax

Total

 

2026

$0

$0

$0

$0

2027

($3,000)

$754,000

($37,000)

$714,000

2028

($8,000)

$1,990,000

($99,000)

$1,883,000

2029

($8,000)

$2,189,000

($108,000)

$2,073,000

2030

($9,000)

$2,408,000

($119,000)

$2,280,000

2031

($10,000)

$2,648,000

($131,000)

$2,507,000

2032

($11,000)

$2,913,000

($143,000)

$2,759,000

2033

($12,000)

$3,205,000

($158,000)

$3,035,000

2034

($13,000)

$3,525,000

($174,000)

$3,338,000

2035

($15,000)

$3,878,000

($191,000)

$3,672,000

 

Total:

($89,000)

$23,510,000

($1,160,000)

$22,261,000


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

Department of Revenue
Department of Commerce


Bill sponsors and contact information:

Representative Kristine Reeves, Prime Sponsor
Democrat
(360) 786-7830
kristine.reeves@leg.wa.gov

Representative Monica Jurado Stonier
Democrat
(360) 786-7872
monica.stonier@leg.wa.gov

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

Representative Mari Leavitt
Democrat
(360) 786-7890
mari.leavitt@leg.wa.gov

Representative Mia Gregerson
Democrat
(360) 786-7868
mia.gregerson@leg.wa.gov

Representative Roger Goodman
Democrat
(360) 786-7878
roger.goodman@leg.wa.gov

Representative Mary Fosse
Democrat
(360) 786-7864
Mary.Fosse@leg.wa.gov

Representative Gerry Pollet
Democrat
(360) 786-7886
gerry.pollet@leg.wa.gov

Representative Adam Bernbaum
Democrat
(360) 786-7916
BERNBAUM_AD@leg.wa.gov




Legislative Bill Information Website: http://apps.leg.wa.gov/billinfo/

Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp