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Bill > SB5096

WA SB5096

WA SB5096
Concerning an excise tax on gains from the sale or exchange of certain capital assets.

summary

Introduced
01/11/2021
In Committee
04/16/2021
Crossed Over
03/06/2021
Passed
04/26/2021
Dead
Signed/Enacted/Adopted
05/04/2021

Introduced Session

2021-2022 Regular Session

Bill Summary

AN ACT Relating to investing in Washington families and creating a more progressive tax system in Washington by enacting an excise tax on the sale or exchange of certain capital assets; amending RCW 83.100.230; adding a new section to chapter 82.04 RCW; adding a new 5 chapter to Title 82 RCW; creating new sections; and prescribing penalties.

AI Summary

This bill imposes a 7% excise tax on the sale or exchange of long-term capital assets, with certain exemptions, in order to fund K-12 education, early learning, and child care. The revenues from the tax will be distributed to the education legacy trust account and the common school construction account. The bill also provides deductions for qualified family-owned small businesses, charitable donations, and real estate transactions. The bill requires taxpayers to file returns and pay the tax electronically, and includes penalties for non-compliance. The bill also provides for annual adjustments to certain amounts based on the consumer price index.

Committee Categories

Budget and Finance

Sponsors (4)

Last Action

Effective date 7/25/2021. (on 05/04/2021)

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bill summary

Document Type Source Location
State Bill Page https://app.leg.wa.gov/billsummary?BillNumber=5096&Year=2021&Initiative=false
BillText http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Bills/Session Laws/Senate/5096-S.SL.pdf
Final Bill Report http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Bill%20Reports/Senate/5096-S.E%20SBR%20FBR%2021.pdf
BillText http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Bills/Senate Passed Legislature/5096-S.PL.pdf
Senate Conference Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/Senate/5096-S.E%20AMC%20CONF%20H1637.1.pdf
Engrossed Substitute Senate Bill Report http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Bill%20Reports/Senate/5096-S.E%20SBR%20HA%2021.pdf
House Engrossed Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/House/5096-S.E%20AMH%20ENGR%20H1547.E.pdf
Engrossed Substitute House Bill Report http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Bill%20Reports/House/5096-S.E%20HBR%20APH%2021.pdf
House Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/House/5096-S.E%20AMH%20DUFA%20H1580.1.pdf
House Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/House/5096-S.E%20AMH%20VICK%20H1586.1.pdf
House Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/House/5096-S.E%20AMH%20STOK%20H1590.1.pdf
House Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/House/5096-S.E%20AMH%20ORCU%20OBRT%20173.pdf
House Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/House/5096-S.E%20AMH%20ORCU%20OBRT%20174.pdf
House Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/House/5096-S.E%20AMH%20DUFA%20H1599.1.pdf
House Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/House/5096-S.E%20AMH%20STOK%20H1585.1.pdf
House Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/House/5096-S.E%20AMH%20VICK%20H1609.1.pdf
House Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/House/5096-S.E%20AMH%20BER%20H1605.1.pdf
House Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/House/5096-S.E%20AMH%20DUFA%20H1587.1.pdf
House Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/House/5096-S.E%20AMH%20RAMO%20H1592.1.pdf
House Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/House/5096-S.E%20AMH%20CALL%20H1594.1.pdf
House Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/House/5096-S.E%20AMH%20ORCU%20H1589.1.pdf
House Committee Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/House/5096-S.E%20AMH%20FIN%20H1547.5.pdf
House Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/House/5096-S.E%20AMH%20VICK%20H1593.1.pdf
House Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/House/5096-S.E%20AMH%20CHAS%20H1588.2.pdf
House Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/House/5096-S.E%20AMH%20ORCU%20OBRT%20172.pdf
House Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/House/5096-S.E%20AMH%20ORCU%20H1603.1.pdf
House Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/House/5096-S.E%20AMH%20DUFA%20H1582.1.pdf
House Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/House/5096-S.E%20AMH%20ORCU%20H1598.1.pdf
House Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/House/5096-S.E%20AMH%20YOUN%20H1583.1.pdf
House Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/House/5096-S.E%20AMH%20STOK%20H1581.1.pdf
House Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/House/5096-S.E%20AMH%20DUFA%20H1601.1.pdf
Engrossed Substitute House Bill Report http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Bill%20Reports/House/5096-S.E%20HBR%20FIN%2021.pdf
Engrossed Substitute House Bill Analysis 2021 http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Bill%20Reports/House/5096-S.E%20HBA%20FIN%2021.pdf
Engrossed Substitute Senate Bill Report http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Bill%20Reports/Senate/5096-S.E%20SBR%20APS%2021.pdf
BillText http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Bills/Senate Bills/5096-S.E.pdf
Senate Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/Senate/5096-S%20AMS%20WILS%20S1871.2.pdf
Senate Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/Senate/5096-S%20AMS%20BRAU%20S1941.1.pdf
Senate Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/Senate/5096-S%20AMS%20BRAU%20S1947.1.pdf
Senate Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/Senate/5096-S%20AMS%20SHOR%20S1952.2.pdf
Senate Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/Senate/5096-S%20AMS%20SHOR%20S1901.2.pdf
Senate Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/Senate/5096-S%20AMS%20BRAU%20S1967.1.pdf
Senate Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/Senate/5096-S%20AMS%20BROW%20S1932.1.pdf
Senate Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/Senate/5096-S%20AMS%20FORT%20S1939.3.pdf
Senate Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/Senate/5096-S%20AMS%20WILS%20S1933.1.pdf
Senate Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/Senate/5096-S%20AMS%20FORT%20S1959.1.pdf
Senate Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/Senate/5096-S%20AMS%20LIIA%20S1957.2.pdf
Senate Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/Senate/5096-S%20AMS%20WILS%20S1872.2.pdf
Senate Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/Senate/5096-S%20AMS%20WAGO%20S1934.1.pdf
Senate Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/Senate/5096-S%20AMS%20FORT%20S1891.2.pdf
Senate Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/Senate/5096-S%20AMS%20RIVE%20S1946.1.pdf
Senate Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/Senate/5096-S%20AMS%20WARN%20S1940.2.pdf
Senate Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/Senate/5096-S%20AMS%20HOBB%20S1951.1.pdf
Senate Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/Senate/5096-S%20AMS%20RIVE%20S1919.1.pdf
Senate Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/Senate/5096-S%20AMS%20FORT%20S1843.3.pdf
Senate Floor Amendment http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Amendments/Senate/5096-S%20AMS%20ROBI%20S1657.6.pdf
BillText http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Bills/Senate Bills/5096-S.pdf
Senate Bill Report http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Bill%20Reports/Senate/5096%20SBR%20WM%20OC%2021.pdf
Senate Bill Report http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Bill%20Reports/Senate/5096%20SBR%20WM%20TA%2021.pdf
Senate Bill Report (Orig.) http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Bill%20Reports/Senate/5096%20SBA%20WM%2021.pdf
BillText http://lawfilesext.leg.wa.gov/biennium/2021-22/Pdf/Bills/Senate Bills/5096.pdf
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