WA People
BILL · 2025–26 SESSION · LATEST VERSION SSB 5314

SB 5314: Capital gains tax

Modifying the capital gains tax.

Summary

  • Makes various technical clarifications, corrections, and administrative changes to the Washington capital gains tax.

From the Substitute Senate Bill Report (SSB 5314), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 409, Laws of 2025
  1. IntroducedJan 16, 2025
  2. Out of committeeFeb 20, 2025
  3. Passed SenateMar 3, 2025
  4. Passed HouseApr 11, 2025
  5. GovernorMay 20, 2025
  6. LawMay 20, 2025
Prime sponsor
Derek Stanford (D-1)
Introduced
January 16, 2025 in the Senate
Last action
May 20, 2025
Session law
Chapter 409, Laws of 2025
Requested by
State agency
Companion bill
HB 1614
Budget
Has a fiscal note
Versions
SB 5314, SSB 5314

AN ACT Relating to modifying the capital gains tax under chapter 82.87 RCW and related statutes by closing loopholes, replacing the business and occupation tax credit with a capital gains tax credit, clarifying ambiguities and making technical corrections in a manner that is not estimated to affect state or local tax collections, modifying the credit for taxes paid in other jurisdictions, treating spouses and domestic partners more consistently, modifying and adding definitions, creating a late payment penalty waiver, modifying the publication schedule for inflation adjustments, modifying the distributions of moneys to the following fiscal year instead of calendar year, adding a nonclaim period, and adding a new requirement for brokers and barter exchanges;

Sponsors

Prime sponsor: Derek Stanford (D-1)

2 co-sponsors (1 Democrat, 1 Republican)

Paul Harris R-17T'wina Nobles D-28

Votes

Senate · 3rd Reading & Final Passage

Passed March 3, 2025
Version voted on: SSB 5314
30 Yea 19 Nay 0 Absent 0 Excused
PartyYeaNayAbsentExcused
Democrat30000
Republican01900
How each member voted
Permalink to this vote

House · Final Passage as Amended by the House

Passed April 11, 2025
Version voted on: SSB 5314
59 Yea 37 Nay 0 Absent 2 Excused
PartyYeaNayAbsentExcused
Democrat55400
Republican43302
How each member voted

Yea (59)

Excused (2)

Permalink to this vote

Senate · Final Passage as Amended by the House

Passed April 18, 2025
Version voted on: SSB 5314
30 Yea 19 Nay 0 Absent 0 Excused
PartyYeaNayAbsentExcused
Democrat30000
Republican01900
How each member voted
Permalink to this vote

History

  1. Effective date 7/27/2025*. (SSB 5314)
  2. Chapter 409, 2025 Laws. (SSB 5314)
  3. Governor signed. (SSB 5314)
  4. Delivered to Governor. (SSB 5314)
  5. Speaker signed. (SSB 5314)
  6. President signed. (SSB 5314)
  7. Passed final passage; yeas, 30; nays, 19; absent, 0; excused, 0. (SSB 5314)
  8. Senate concurred in House amendments. (SSB 5314)
  9. Third reading, passed; yeas, 59; nays, 37; absent, 0; excused, 2. (SSB 5314)
  10. Rules suspended. Placed on Third Reading. (SSB 5314)
  11. Committee amendment(s) adopted with no other amendments. (SSB 5314)
  12. Rules Committee relieved of further consideration. Placed on second reading. (SSB 5314)
  13. Referred to Rules 2 Review. (SSB 5314)
  14. Minority; without recommendation. (SSB 5314)
  15. Minority; do not pass. (SSB 5314)
  16. APP - Majority; do pass with amendment(s). (SSB 5314)
  17. APP - Executive action taken by committee. (SSB 5314)
  18. Referred to Appropriations. (SSB 5314)
  19. FIN - Executive action taken by committee. (SSB 5314)
  20. Minority; do not pass. (SSB 5314)
  21. FIN - Majority; do pass. (SSB 5314)
  22. First reading, referred to Finance. (SSB 5314)
  23. Third reading, passed; yeas, 30; nays, 19; absent, 0; excused, 0. (SSB 5314)
  24. Rules suspended. Placed on Third Reading. (SSB 5314)
  25. 1st substitute bill substituted. (SSB 5314)
  26. 1st substitute bill substituted.
  27. Placed on second reading by Rules Committee. (SSB 5314)
  28. Placed on second reading by Rules Committee.
  29. Passed to Rules Committee for second reading. (SSB 5314)
  30. Passed to Rules Committee for second reading.
  31. WM - Majority; 1st substitute bill be substituted, do pass. (SSB 5314)
  32. Minority; do not pass. (SSB 5314)
  33. Minority; without recommendation. (SSB 5314)
  34. Minority; without recommendation.
  35. Minority; do not pass.
  36. WM - Majority; 1st substitute bill be substituted, do pass.
  37. First reading, referred to Ways & Means.

SB 5314 in other sessions

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

Report wrong or missing information on this page