Bill
Bill > SB5068
summary
Introduced
01/09/2023
01/09/2023
In Committee
01/09/2023
01/09/2023
Crossed Over
Passed
Dead
04/12/2024
04/12/2024
Introduced Session
2023-2024 Regular Session
Bill Summary
AN ACT Relating to dedicating the state sales tax on motor vehicles for transportation; amending RCW 82.08.020, 82.12.020, and 43.84.092; adding a new section to chapter 46.68 RCW; creating a new section; and providing an effective date.
AI Summary
This bill dedicates a portion of the state sales tax revenue on new and used vehicle sales to a new Transportation Preservation and Maintenance Account. The percentage of sales tax revenue dedicated to the account starts at 10% in 2025 and increases by 10% each year until reaching 100% in 2034 and every year thereafter. The funds in this account can only be used for transportation projects, programs, and activities, and cannot be used for new revenue bond issues or other debt financing. The goal is to provide a stable funding source for transportation infrastructure that is not subject to the economic and political vulnerabilities of fuel taxes and vehicle fees.
Committee Categories
Budget and Finance
Sponsors (5)
Last Action
By resolution, reintroduced and retained in present status. (on 01/08/2024)
Taxonomy
Macroeconomics
- ‐ Taxation, Tax Policy, and Tax Reform
Transportation
- ‐ Infrastructure
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://app.leg.wa.gov/billsummary?BillNumber=5068&Year=2023&Initiative=false | 12/19/2022 |
| Fiscal Note - 5068 SB (Final) | https://fnspublic.ofm.wa.gov/FNSPublicSearch/GetPDF?packageID=65592 | 01/09/2024 |
| Fiscal Note - 5068 SB (Partial) | https://fnspublic.ofm.wa.gov/FNSPublicSearch/GetPDF?packageID=65573 | 01/09/2024 |
| BillText | https://lawfilesext.leg.wa.gov/biennium/2023-24/Pdf/Bills/Senate%20Bills/5068.pdf | 12/19/2022 |
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