WA People
BILL · 2017–18 SESSION · LATEST VERSION ESB 5111

SB 5111: 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

  • Creates a 7 percent tax on capital gains deposited into the Education Legacy Trust account.

From the Engrossed Senate Bill Report (ESB 5111), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · passed Senate, stalled in House
  1. IntroducedJan 12, 2017
  2. Out of committeeFeb 24, 2017
  3. Passed SenateApr 21, 2017
  4. Passed Housestopped here
  5. Governor
  6. Law
Prime sponsor
John Braun (R-20)
Introduced
January 12, 2017 in the Senate
Last action
April 21, 2017
Requested by
State agency
Companion bill
HB 1730
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: John Braun (R-20)

2 co-sponsors (2 Democrats, 0 Republicans)

Kevin Ranker D-40Senator D-22

Votes

Senate · Adoption of Striking Amendment Number 278 by Senator Braun

April 21, 2017
Version voted on: ESB 5111
25 Yea 23 Nay 1 Absent 0 Excused
PartyYeaNayAbsentExcused
Democrat12310
Republican24000
How each member voted

Absent (1)

Permalink to this vote

Senate · Motion by Senator Braun to advance to 3rd Reading & Final Passage

April 21, 2017
Version voted on: ESB 5111
25 Yea 23 Nay 0 Absent 1 Excused
PartyYeaNayAbsentExcused
Democrat12301
Republican24000
How each member voted

Excused (1)

Permalink to this vote

Senate · 3rd Reading & Final Passage

Failed April 21, 2017
Version voted on: ESB 5111
0 Yea 48 Nay 0 Absent 1 Excused
PartyYeaNayAbsentExcused
Democrat02401
Republican02400
How each member voted

Excused (1)

Permalink to this vote
1 other recorded vote (amendments, procedural motions)

Senate · Motion to suspend the rules, advance the measure to 3rd Rdg & Final Passage

March 23, 2017
Version voted on: ESB 5111
25 Yea 7 Nay 17 Absent 0 Excused
PartyYeaNayAbsentExcused
Democrat17170
Republican24000
How each member voted
Permalink to this vote

History

  1. Failed final passage; yeas, 0; nays, 48; absent, 0; excused, 1. (ESB 5111)
  2. Rules suspended. Placed on Third Reading. (ESB 5111)
  3. Floor amendment(s) adopted. (ESB 5111)
  4. Held on second reading. (ESB 5111)
  5. Motion to suspend the rules and advance the measure to 3rd reading & final passage failed. (ESB 5111)
  6. Held on second reading. (ESB 5111)
  7. Placed on second reading by Rules Committee. (ESB 5111)
  8. Passed to Rules Committee for second reading. (ESB 5111)
  9. WM - Majority; without recommendation. (ESB 5111)
  10. First reading, referred to Ways & Means. (ESB 5111)

SB 5111 in other sessions

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

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