WA People
BILL · 2017–18 SESSION

HB 1926: 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

  • Imposes a tax on individuals for the privilege of: (1) Selling or exchanging long-term capital assets; or (2) Receiving Washington capital gains. Allows a business and occupation tax deduction against a person's gross income of the business to the extent necessary to avoid taxing the same amounts under chapter 82.04 RCW and this act. Provides funding for the education legacy trust account.

From the Bill Digest (HB 1926), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · died in committee
  1. IntroducedFeb 2, 2017
  2. Out of committeestopped here
  3. Passed House
  4. Passed Senate
  5. Governor
  6. Law
Prime sponsor
Gerry Pollet (D-46)
Introduced
February 2, 2017 in the House
Last action
January 8, 2018
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: Gerry Pollet (D-46)

1 co-sponsor (1 Democrat, 0 Republicans)

Sharon Tomiko Santos D-37

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. First reading, referred to Finance (Not Officially read and referred until adoption of Introduction report).

HB 1926 in other sessions

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

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