SB 5765 intends to revise the tax code in order to fund basic education; based on the department of revenue's 2016 tax exemption study which found that there are six hundred ninety-four tax exemptions in the state's tax code attributing to over fifty billion dollars in taxpayers' savings from state taxes. The bill would specifically repeal: (1) RCW 82.04.315 (Exemptions—International banking facilities); and (2) RCW 82.04.540 (Professional employer organizations—Taxable 6 under RCW 82.04.290(2)—Deduction). The bill would take effect August 1, 2017.
Referred to Ways & Means, but never had a hearing. This bill did not make it out of its committee by the cutoff deadline.