summary
Introduced
02/08/2023
02/08/2023
In Committee
02/08/2023
02/08/2023
Crossed Over
Passed
Dead
04/12/2024
04/12/2024
Introduced Session
2023-2024 Regular Session
Bill Summary
AN ACT Relating to making the estate tax more progressive; 2 amending RCW 83.100.040, 83.100.047, 83.100.048, 83.100.050, and 3 83.100.220; reenacting and amending RCW 83.100.020; adding a new 4 section to chapter 83.100 RCW; creating new sections; and providing 5 an effective date. 6
AI Summary
This bill makes the estate tax in Washington more progressive. It increases the estate tax rates for higher-value estates, with rates ranging from 10% on the first $1 million to 40% on estates over $1 billion. It also limits deductions for certain transfers to family foundations. The bill creates a new "progressive policy account" to fund efforts to address intergenerational poverty using the increased tax revenue. The changes in this bill apply to decedents dying on or after August 1, 2023.
Committee Categories
Budget and Finance
Sponsors (13)
Chipalo Street (D)*,
Jessica Bateman (D),
Joe Fitzgibbon (D),
Mia Gregerson (D),
Debra Lekanoff (D),
Timm Ormsby (D),
Gerry Pollet (D),
Alex Ramel (D),
Julia Reed (D),
Cindy Ryu (D),
Tana Senn (D),
Tarra Simmons (D),
Amy Walen (D),
Last Action
By resolution, reintroduced and retained in present status. (on 01/08/2024)
Bill Topics
Macroeconomics
- ‐ Taxation, Tax Policy, and Tax Reform
Social Welfare
- ‐ Poverty and Assistance for Low-Income Families
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=1795&Year=2023&Initiative=false | 02/07/2023 |
| Fiscal Note - 1795 HB (Revised) | https://fnspublic.ofm.wa.gov/FNSPublicSearch/GetPDF?packageID=66984 | 01/08/2024 |
| Fiscal Note - 1795 HB (Final) | https://fnspublic.ofm.wa.gov/FNSPublicSearch/GetPDF?packageID=66941 | 01/08/2024 |
| House Bill Analysis 2023 | https://lawfilesext.leg.wa.gov/biennium/2023-24/Pdf/Bill%20Reports/House/1795%20HBA%20FIN%2023.pdf | 02/11/2023 |
| BillText | https://lawfilesext.leg.wa.gov/biennium/2023-24/Pdf/Bills/House%20Bills/1795.pdf | 02/07/2023 |
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