WA People
BILL · 2011–12 SESSION · LATEST VERSION EHB 1490

HB 1490: B&O tax deduction

Concerning a business and occupation tax deduction for certified community development financial institutions.

Summary

  • A nonprofit organization certified as a CDFI by the federal CDFI fund may take a B&O tax deduction on interest received on or after August 1, 2011, from loans issued as part of a first-time home buyers program. A nonprofit organization is defined as an organization exempt from federal income tax under 26 U.S.C. Sec. 501(c)(3) of the federal Internal Revenue Code.

From the Engrossed Senate Bill Report (EHB 1490), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · passed House, stalled in Senate
  1. IntroducedJan 24, 2011
  2. Out of committeeFeb 25, 2011
  3. Passed HouseMar 2, 2011
  4. Passed Senatestopped here
  5. Governor
  6. Law
Prime sponsor
Phyllis Gutierrez Kenney (D-46)
Introduced
January 24, 2011 in the House
Last action
April 11, 2012
Companion bill
SB 5363
Budget
Has a fiscal note

AN ACT Relating to a business and occupation tax deduction for certified community development financial institutions;

Sponsors

Prime sponsor: Phyllis Gutierrez Kenney (D-46)

2 co-sponsors (1 Democrat, 1 Republican)

Ed Orcutt R-18Sharon Tomiko Santos D-37

Votes

House · Final Passage

Passed March 2, 2011
Version voted on: EHB 1490
94 Yea 2 Nay 0 Absent 2 Excused
PartyYeaNayAbsentExcused
Democrat55100
Republican39102
How each member voted

Yea (94)

Nay (2)

Excused (2)

Permalink to this vote

History

  1. By resolution, reintroduced and retained in present status. (EHB 1490)
  2. By resolution, reintroduced and retained in present status. (EHB 1490)
  3. Referred to Ways & Means. (EHB 1490)
  4. Rules Committee relieved of further consideration. (EHB 1490)
  5. By resolution, reintroduced and retained in present status. (EHB 1490)
  6. By resolution, reintroduced and retained in present status. (EHB 1490)
  7. Returned to House Rules 3. (EHB 1490)
  8. Rules Committee relieved of further consideration. Placed on third reading. (EHB 1490)
  9. By resolution, reintroduced and retained in present status. (EHB 1490)
  10. Referred to Rules. (EHB 1490)
  11. By resolution, returned to House Rules Committee for third reading. (EHB 1490)
  12. Placed on second reading by Rules Committee. (EHB 1490)
  13. Made eligible to be placed on second reading. (EHB 1490)
  14. Passed to Rules Committee for second reading. (EHB 1490)
  15. WM - Majority; do pass. (EHB 1490)
  16. Referred to Ways & Means. (EHB 1490)
  17. And refer to Ways & Means. (EHB 1490)
  18. FIHI - Majority; do pass. (EHB 1490)
  19. First reading, referred to Financial Institutions, Housing & Insurance. (EHB 1490)
  20. Third reading, passed; yeas, 94; nays, 2; absent, 0; excused, 2. (EHB 1490)
  21. Rules suspended. Placed on Third Reading. (EHB 1490)
  22. Committee amendment adopted with no other amendments. (EHB 1490)
  23. Placed on second reading by Rules Committee. (EHB 1490)
  24. Passed to Rules Committee for second reading. (EHB 1490)
  25. WAYS - Majority; do pass. (EHB 1490)
  26. WAYS - Executive action taken by committee. (EHB 1490)
  27. Referred to Ways & Means. (EHB 1490)
  28. CDH - Executive action taken by committee. (EHB 1490)
  29. CDH - Majority; do pass with amendment(s). (EHB 1490)
  30. First reading, referred to Community Development & Housing. (EHB 1490)

HB 1490 in other sessions

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

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