BILL REQ. #: H-0708.1
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HOUSE BILL 1494
_____________________________________________| State of Washington | 63rd Legislature | 2013 Regular Session |
By Representatives Pollet, Moscoso, Hunt, McCoy, Farrell, Bergquist, Reykdal, Appleton, Ryu, Roberts, Jinkins, and FeyRead first time 01/29/13. Referred to Committee on Finance.
AN ACT Relating to providing additional funding for the state's
higher education institutions and their students; amending RCW
83.100.040; and creating a new section.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1 INTENT. The legislature finds that the per-student level of funding at each of our state's higher education
institutions fails to reach the sixtieth percentile of peer level
funding as directed in RCW 28B.15.068. The legislature finds further,
that steep tuition increases levied over the past several biennia are
threatening to place the opportunity for a higher education out of the
reach of our state's middle class. Therefore, the legislature intends
to provide additional funding for our state's higher education
institutions and their students.
Sec. 2 RCW 83.100.040 and 2010 c 106 s 234 are each amended to
read as follows:
(1) A tax in an amount computed as provided in this section is
imposed on every transfer of property located in Washington. For the
purposes of this section, any intangible property owned by a resident
is located in Washington.
(2)(a) Except as provided in (b) of this subsection, the amount of
tax is the amount provided in the following table:
If Washington Taxable |
The amount of Tax Equals |
Of Washington
Taxable Estate Value
Greater than |
| Estate is at least | But Less Than | Initial Tax Amount | Plus Tax Rate % |
| $0 | $1,000,000 | $0 | ((10.00%)) 20.00% | $0 |
| $1,000,000 | $2,000,000 | $100,000 | ((14.00%)) 28.00% | $1,000,000 |
| $2,000,000 | $3,000,000 | $240,000 | ((15.00%)) 30.00% | $2,000,000 |
| $3,000,000 | $4,000,000 | $390,000 | ((16.00%)) 32.00% | $3,000,000 |
| $4,000,000 | $6,000,000 | $550,000 | ((17.00%)) 34.00% | $4,000,000 |
| $6,000,000 | $7,000,000 | $890,000 | ((18.00%)) 36.00% | $6,000,000 |
| $7,000,000 | $9,000,000 | $1,070,000 | ((18.50%)) 37.00% | $7,000,000 |
| $9,000,000 | | $1,440,000 | ((19.00%)) 38.00% | $9,000,000 |
(b) If any property in the decedent's estate is located outside of
Washington, the amount of tax is the amount determined in (a) of this
subsection multiplied by a fraction. The numerator of the fraction is
the value of the property located in Washington. The denominator of
the fraction is the value of the decedent's gross estate. Property
qualifying for a deduction under RCW 83.100.046 must be excluded from
the numerator and denominator of the fraction.
(3) The tax imposed under this section is a stand-alone estate tax
that incorporates only those provisions of the internal revenue code as
amended or renumbered as of January 1, 2005, that do not conflict with
the provisions of this chapter. The tax imposed under this chapter is
independent of any federal estate tax obligation and is not affected by
termination of the federal estate tax.
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