H-2078.1

HOUSE BILL 1912

State of Washington
67th Legislature
2022 Regular Session
ByRepresentatives Dufault, Orcutt, Robertson, Caldier, Dye, Gilday, Hoff, Jacobsen, Chase, MacEwen, McEntire, Walsh, Corry, Boehnke, Eslick, Barkis, Graham, Stokesbary, Dent, and Young
Read first time 01/11/22.Referred to Committee on Finance.
AN ACT Relating to repealing the capital gains income tax; creating a new section; repealing RCW 82.87.010, 82.87.020, 82.87.030, 82.87.040, 82.87.050, 82.87.060, 82.87.070, 82.87.080, 82.87.090, 82.87.100, 82.87.110, 82.87.120, 82.87.130, 82.87.140, 82.04.4497, and 82.87.150; and repealing 2021 c 196 ss 18 and 20 (uncodified).
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION.  Sec. 1. The following acts or parts of acts are each repealed:
(1) RCW 82.87.010 (FindingsIntent2021 c 196) and 2021 c 196 s 1;
(2) RCW 82.87.020 (Definitions) and 2021 c 196 s 4;
(3) RCW 82.87.030 (Distribution of revenues) and 2021 c 196 s 2;
(4) RCW 82.87.040 (Tax imposedLong-term capital assets) and 2021 c 196 s 5;
(5) RCW 82.87.050 (Exemptions) and 2021 c 196 s 6;
(6) RCW 82.87.060 (Deductions) and 2021 c 196 s 7;
(7) RCW 82.87.070 (Qualified family-owned small business deduction) and 2021 c 196 s 8;
(8) RCW 82.87.080 (Charitable donation deduction) and 2021 c 196 s 9;
(9) RCW 82.87.090 (Other taxes) and 2021 c 196 s 10;
(10) RCW 82.87.100 (Allocation of long-term capital gains and lossesCredit) and 2021 c 196 s 11;
(11) RCW 82.87.110 (Filing of returnsAdditional documentationPenalty) and 2021 c 196 s 12;
(12) RCW 82.87.120 (Joint filersSeparate filersTax liability) and 2021 c 196 s 13;
(13) RCW 82.87.130 (Administration of taxes) and 2021 c 196 s 14;
(14) RCW 82.87.140 (Tax criminal penalties) and 2021 c 196 s 15;
(15) RCW 82.04.4497 (CreditSale or exchange of long-term capital assets) and 2021 c 196 s 16;
(16) RCW 82.87.150 (Annual adjustments) and 2021 c 196 s 17;
(17) 2021 c 196 s 18 (uncodified); and
(18) 2021 c 196 s 20 (uncodified).
NEW SECTION.  Sec. 2. This act applies retroactively to January 1, 2022, as well as prospectively.
--- END ---