WA People
BILL · 2001–02 SESSION · LATEST VERSION 2SSB 5506

SB 5506: Charitable gift annuity

Regulating charitable gift annuity businesses.

Summary

  • $ A charitable organization involved in the charitable gift annuity business may be exempted from the reserve fund requirement, provided the organization purchases a single premium commercial life annuity sufficient to cover the organization's payment obligations under its annuity contracts.
  • $ An organization with a certificate of exemption cannot offer a commission for the solicitation of a particular charitable gift annuity.

From the Second Substitute House Bill Analysis (2SSB 5506), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · passed Senate, stalled in House
  1. IntroducedJan 24, 2001
  2. Out of committeeFeb 22, 2001
  3. Passed SenateFeb 11, 2002
  4. Passed Housestopped here
  5. Governor
  6. Law
Prime sponsor
Ken Jacobsen (D-46)
Introduced
January 24, 2001 in the Senate
Last action
March 14, 2002
Budget
Has a fiscal note
Versions
SB 5506, SSB 5506, 2SSB 5506

AN ACT Relating to the separate reserve fund maintained by a charitable gift annuity business;

Sponsors

Prime sponsor: Ken Jacobsen (D-46)

Votes

Senate · 3rd Reading & Final Passage

Passed February 11, 2002
Version voted on: SSB 5506
48 Yea 0 Nay 0 Absent 1 Excused
PartyYeaNayAbsentExcused
Democrat24001
Republican24000
How each member voted

Yea (48)

Excused (1)

Permalink to this vote

History

  1. By resolution, returned to Senate Rules Committee for third reading. (2SSB 5506)
  2. Referred to Rules 2 Review. (2SSB 5506)
  3. Placed on second reading by Rules Committee. (2SSB 5506)
  4. Made eligible to be placed on second reading. (2SSB 5506)
  5. Passed to Rules Committee for second reading. (2SSB 5506)
  6. FII - Majority; do pass with amendment(s). (2SSB 5506)
  7. FII - Executive action taken by committee. (2SSB 5506)
  8. First reading, referred to Financial Institutions & Insurance. (2SSB 5506)
  9. Third reading, passed; yeas, 48; nays, 0; absent, 0; excused, 1. (2SSB 5506)
  10. Rules suspended. Placed on Third Reading. (2SSB 5506)
  11. 2nd substitute bill substituted. (2SSB 5506)
  12. 2nd substitute bill substituted. (SSB 5506)
  13. 2nd substitute bill substituted.
  14. Placed on second reading by Rules Committee. (2SSB 5506)
  15. Placed on second reading by Rules Committee. (SSB 5506)
  16. Placed on second reading by Rules Committee.
  17. Made eligible to be placed on second reading. (2SSB 5506)
  18. Made eligible to be placed on second reading. (SSB 5506)
  19. Made eligible to be placed on second reading.
  20. LCF - Majority; 2nd substitute bill be substituted, do pass. (2SSB 5506)
  21. Passed to Rules Committee for second reading. (2SSB 5506)
  22. Passed to Rules Committee for second reading. (SSB 5506)
  23. LCF - Majority; 2nd substitute bill be substituted, do pass. (SSB 5506)
  24. LCF - Majority; 2nd substitute bill be substituted, do pass.
  25. Passed to Rules Committee for second reading.
  26. On motion, referred to Labor, Commerce & Financial Institutions. (SSB 5506)
  27. On motion, referred to Labor, Commerce & Financial Institutions.
  28. By resolution, reintroduced and retained in present status. (SSB 5506)
  29. By resolution, reintroduced and retained in present status.
  30. By resolution, reintroduced and retained in present status. (SSB 5506)
  31. By resolution, reintroduced and retained in present status.
  32. Senate Rules "X" file. (SSB 5506)
  33. Senate Rules "X" file.
  34. Made eligible to be placed on second reading. (SSB 5506)
  35. Made eligible to be placed on second reading.
  36. Passed to Rules Committee for second reading. (SSB 5506)
  37. LCF - Majority; 1st substitute bill be substituted, do pass. (SSB 5506)
  38. LCF - Majority; 1st substitute bill be substituted, do pass.
  39. Passed to Rules Committee for second reading.
  40. First reading, referred to Labor, Commerce & Financial Institutions.

SB 5506 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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