WA People
BILL · 2023–24 SESSION · LATEST VERSION SSB 5493

SB 5493: Financial instit./B&O tax

Limiting a business and occupation tax deduction for financial institutions to fund affordable housing.

Summary

  • Limits the business and occupation tax deduction for interest on investments or loans secured by first mortgages or deeds of trust on non-transient residential properties for community banks to interest received on investments or qualified loans.

From the Senate Bill Report (SB 5493), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · died in committee
  1. IntroducedJan 20, 2023
  2. Out of committeestopped here
  3. Passed Senate
  4. Passed House
  5. Governor
  6. Law
Prime sponsor
Patty Kuderer (D-48)
Introduced
January 20, 2023 in the Senate
Last action
January 8, 2024
Budget
Has a fiscal note
Versions
SB 5493, SSB 5493

AN ACT Relating to limiting a business and occupation tax deduction for financial institutions to fund affordable housing;

Sponsors

Prime sponsor: Patty Kuderer (D-48)

6 co-sponsors (6 Democrats, 0 Republicans)

Lisa Wellman D-41Bob Hasegawa D-11Liz Lovelett D-40John Lovick D-44Rebecca Saldaña D-37Claire Wilson D-30

Votes

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

History

  1. By resolution, reintroduced and retained in present status. (SSB 5493)
  2. By resolution, reintroduced and retained in present status.
  3. Referred to Ways & Means. (SSB 5493)
  4. Referred to Ways & Means.
  5. HSG - Majority; 1st substitute bill be substituted, do pass. (SSB 5493)
  6. And refer to Ways & Means. (SSB 5493)
  7. Minority; do not pass. (SSB 5493)
  8. Minority; do not pass.
  9. And refer to Ways & Means.
  10. HSG - Majority; 1st substitute bill be substituted, do pass.
  11. First reading, referred to Housing.

SB 5493 in other sessions

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

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