5813-S.E AMH PENN TAYT 503

ESSB 5813 - H AMD TO FIN COMM AMD (H-2352.1/25) 1389

By Representative Penner

NOT ADOPTED 04/23/2025

On page 2, line 14, after "(1)" strike "(a)" and insert "Subject to the limitation in subsection (2) of this section,

(a)"

On page 2, line 22, after "(2)" insert "(a) To make the capital gains tax imposed in subsection (1) more progressive, an individual may claim an exemption of $1,000,000 in Washington capital gains over a lifetime. This exemption is cumulative and applies to Washington capital gains as defined in RCW 82.87.020(13).

(b) The exemption may be carried forward into subsequent years until $1,000,000 in Washington capital gains exemptions has been claimed by the individual.

(c)In the case of the case of spouses or domestic partners, their combined lifetime exemption is $2,000,000, if filing jointly.

(d) An individual must still file a Washington capital gains return even if no tax is due and payable.

(e) The department may adopt rules necessary to assist in the claiming and tracking of the exemption in this subsection (2).

(3)"

Renumber the remaining subsections consecutively and correct any internal references accordingly.

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