SB 6096-S - DIGEST

(NOT SUBSTITUTED FOR - SEE ORIGINAL BILL)

Recognizes that on February 3, 2005, the Washington state supreme court decided in Estate of Hemphill v. Dep't of Rev., Docket No. 74974-4, that Washington's estate tax is tied to the current federal Internal Revenue Code.

Finds that the revenue loss resulting from the Hemphill decision will severely affect the legislature's ability to fund programs vital to the peace, health, safety, and support of the citizens of this state.

Declares an intent to address the adverse fiscal impact of the Hemphill decision and provide funding for Initiative No. 728 by creating a stand-alone state estate tax that is not affected by changes in federal law after 2005.

Repeals RCW 83.100.030 and 83.100.045.