UPDATE: 10 Year Analysis Complete for Engrossed Substitute Senate Bill 6346.PL

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UPDATE: The 10 year analysis for ESSB 6346.PL, titled AN ACT Relating to investing in Washington families and businesses to fund K-12 education, health care, higher education, other essential governmental services, and the working families' tax credit, and to reduce certain sales and use taxes and certain business and occupation taxes by establishing a tax on millionaires, 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	Retail sales tax	Tax on Income	Total
2026		$0	$0	$0	$0
2027		$2,300,000	($48,778,000)	$0	($46,478,000)
2028		$2,100,000	($54,438,000)	$0	($52,338,000)
2029		$32,200,000	($376,852,000)	$2,698,000,000	$2,353,348,000
2030		$24,000,000	($853,735,000)	$3,732,000,000	$2,902,265,000
2031		$157,200,000	($883,836,000)	$3,167,000,000	$2,440,364,000
2032		$164,900,000	($915,077,000)	$3,297,000,000	$2,546,823,000
2033		$173,000,000	($947,359,000)	$3,439,000,000	$2,664,641,000
2034		$180,500,000	($980,780,000)	$3,591,000,000	$2,790,720,000
2035		$190,400,000	($1,015,431,000)	$3,753,000,000	$2,927,969,000
Total:		$926,600,000	($6,076,286,000)	$23,677,000,000	$18,527,314,000

Dept of Social and Health Services:

Future cash receipts are indeterminate as potential child support collections from Section 711 of the bill and the amount retained is unknown.

Admin Office of the Courts:

Indeterminate.  The Administrative Office of the Courts (AOC) has no data available to estimate the cash receipt impact from the additional number of violations that would be filed because of this bill.

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

Admin Office of the Courts
Department of Revenue
Dept of Social and Health Services
Department of Commerce

This engrossed bill is proposed by the Senate.

The substitute bill was proposed by:

Senate Committee on Ways & Means
(360) 786-7715



The original bill sponsors and contact information are:

Senator Jamie Pedersen, Prime Sponsor
Democrat
(360) 786-7628
jamie.pedersen@leg.wa.gov

Senator Mike Chapman
Democrat
(360) 786-7646
mike.chapman@leg.wa.gov

Senator Noel Frame
Democrat
(360) 786-7670
noel.frame@leg.wa.gov

Senator Jessica Bateman
Democrat
(360) 786-7642
jessica.bateman@leg.wa.gov

Senator Tina Orwall
Democrat
(360) 786-7664
tina.orwall@leg.wa.gov

Senator Vandana Slatter
Democrat
(360) 786-7694
vandana.slatter@leg.wa.gov

Senator Emily Alvarado
Democrat
(360) 786-7667
Emily.Alvarado@leg.wa.gov

Senator Victoria Hunt
Democrat
(360) 786-7608
Victoria.Hunt@leg.wa.gov

Senator Liz Lovelett
Democrat
(360) 786-7678
liz.lovelett@leg.wa.gov

Senator Marcus Riccelli
Democrat
(360) 786-7604
marcus.riccelli@leg.wa.gov

Senator Sharon Shewmake
Democrat
(360) 786-7682
sharon.shewmake@leg.wa.gov

Senator Javier Valdez
Democrat
(360) 786-7690
javier.valdez@leg.wa.gov

Senator Lisa Wellman
Democrat
(360) 786-7641
lisa.wellman@leg.wa.gov

Senator Bob Hasegawa
Democrat
(360) 786-7616
bob.hasegawa@leg.wa.gov

Senator June Robinson
Democrat
(360) 786-7674
june.robinson@leg.wa.gov

Senator John Lovick
Democrat
(360) 786-7686
john.lovick@leg.wa.gov

Senator Steve Conway
Democrat
(360) 786-7656
steve.conway@leg.wa.gov

Senator Yasmin Trudeau
Democrat
(360) 786-7652
yasmin.trudeau@leg.wa.gov

Senator Annette Cleveland
Democrat
(360) 786-7696
Annette.Cleveland@leg.wa.gov

Senator Claudia Kauffman
Democrat
(360) 786-7692
claudia.kauffman@leg.wa.gov

Senator Claire Wilson
Democrat
(360) 786-7658
claire.wilson@leg.wa.gov

Senator Manka Dhingra
Democrat
(360) 786-7672
manka.dhingra@leg.wa.gov

Senator Derek Stanford
Democrat
(360) 786-7600
derek.stanford@leg.wa.gov

Senator T'wina Nobles
Democrat
(360) 786-7654
T'wina.Nobles@leg.wa.gov

Senator Rebecca Saldaña
Democrat
(360) 786-7688
rebecca.saldana@leg.wa.gov

Senator Jesse Salomon
Democrat
(360) 786-7662
jesse.salomon@leg.wa.gov




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

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