WA People
BILL · 2015–16 SESSION

SB 5699: Capital gains excise tax

Enacting an excise tax on capital gains to improve the fairness of Washington's tax system and provide funding for the education legacy trust account.

Summary

  • Provides funding for the education legacy trust account. Imposes a tax on individuals for the privilege of: (1) Selling or exchanging long-term capital assets; or (2) Receiving Washington capital gains.

From the Bill Digest (SB 5699), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · died in committee
  1. IntroducedJan 29, 2015
  2. Out of committeestopped here
  3. Passed Senate
  4. Passed House
  5. Governor
  6. Law
Prime sponsor
Sharon Nelson (D-34)
Introduced
January 29, 2015 in the Senate
Last action
March 10, 2016
Requested by
State agency
Companion bill
HB 1484
Budget
Has a fiscal note

AN ACT Relating to enacting an excise tax on capital gains to improve the fairness of Washington's tax system and provide funding for the education legacy trust account;

Sponsors

Prime sponsor: Sharon Nelson (D-34)

5 co-sponsors (5 Democrats, 0 Republicans)

Jeannie Darneille D-27Bob Hasegawa D-11Karen Keiser D-33Steve Conway D-29Rosemary McAuliffe D-1

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. By resolution, reintroduced and retained in present status.
  4. By resolution, reintroduced and retained in present status.
  5. By resolution, reintroduced and retained in present status.
  6. First reading, referred to Ways & Means.

SB 5699 in other sessions

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

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