WA People
BILL · 2011–12 SESSION

SB 6482: 2% tax on millionaires

Assessing a two percent tax on millionaires to fund the paramount duty trust fund and reduce class sizes in grades kindergarten through fourth.

Summary

  • Assesses a two percent marginal tax on annual income exceeding one million dollars. Establishes a new state trust fund dedicated to meeting the paramount duty for the education of all children. Requires only taxpayers with adjusted gross income of one million dollars or more to file a tax return with the department of revenue.

From the Bill Digest (SB 6482), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · died in committee
  1. IntroducedJan 25, 2012
  2. Out of committeestopped here
  3. Passed Senate
  4. Passed House
  5. Governor
  6. Law
Prime sponsor
Sharon Nelson (D-34)
Introduced
January 25, 2012 in the Senate
Last action
April 11, 2012
Budget
Has a fiscal note

AN ACT Relating to assessing a two percent tax on millionaires to fund the paramount duty trust fund and reduce class sizes in grades kindergarten through fourth;

Sponsors

Prime sponsor: Sharon Nelson (D-34)

5 co-sponsors (5 Democrats, 0 Republicans)

Steve Conway D-29Jeanne Kohl-Welles D-36Maralyn Chase D-32Rosemary McAuliffe D-1Karen Keiser D-33

Votes

No recorded floor votes. This measure never reached a floor vote.

History

  1. By resolution, reintroduced and retained in present status.
  2. By resolution, reintroduced and retained in present status.
  3. First reading, referred to Ways & Means.

SB 6482 in other sessions

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

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