Supporting wildfire mitigation by modifying RCW 82.04.29005, concerning taxes on loan interest.

Summary

The bill changes Washington’s tax code so that interest and related fees earned by high‑volume mortgage lenders operating in the state are subject to the business and occupation tax. The estimated revenue is automatically transferred each year to the state’s wildfire response, forest restoration, and community resilience account. This creates a dedicated funding stream for wildfire preparedness and mitigation.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share