5167-S AMS ROBI S2586.1
SSB 5167 - S AMD 238
By Senator Robinson
ADOPTED 03/29/2025
On page 73, after line 5, insert the following:
"(13) Within existing resources, during the 2025-2027 fiscal biennium, the department of revenue shall implement an expanded voluntary disclosure program for all entities engaged in investment activities that are not a banking, lending, or security business, as defined in RCW 82.04.4281. Unless an audit has been commenced by the department as of July 1, 2025, all such entities may participate in the expanded voluntary disclosure program. During the 2025-2027 fiscal biennium, the department shall waive all penalties and interest for participating entities of the expanded voluntary disclosure program for the purpose of registering and collecting revenue due from businesses."
EFFECT: Directs the Department of Revenue to implement an expanded voluntary disclosure program during the 2025-2027 fiscal biennium for entities engaged in investment activities.
EXPENDITURE EFFECT: None
REVENUE EFFECT (2025-2027): $50,000,000 Near General Fund—State/$50,000,000 Total Funds
FOUR-YEAR OUTLOOK REVENUE EFFECT: $50,000,000 Near General Fund—State
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