Action Alert: Oppose SB 5096 - State Capital Gains Tax

Urging all WBPA Members to Electronically Sign in Opposition or Sign in to Testify Virtually to OPPOSE SB 5096

 SB 5096: Concerning an excise tax on gains from the sale or exchange of certain capital assets.

• Implements a 9% Capital Gains tax including a residential dwelling with more than four units.  This includes commercial office buildings, manufactured housing, condominiums, self-storage, retail, and floating homes.
•  The tax applies to individuals earning over $25,000, and couples earning over $50,000 annually.
•  This tax would be in addition to the federal capital gains tax.
•  With the Governor’s moratorium on rents not to be raised and unemployment for tenants due to COVID, we are hugely impacting the housing market.  You will likely be asked by lawmakers, what percentage of the market for your individual property or industry figures are not paying rent due to these conditions.

 Sponsors:  Senators Robinson, Wilson, C., Hunt, Nguyen

By Request: Office of Financial Management

STATUS SB:       Senate Ways and Means Committee

Hearing: Thursday, January 14 at 4:00 p.m.

•  To Sign up to Submit written testimony, click here
• Testify virtually in Opposition of, click here
• To Provide opposition to be noted for the legislative record, click here.

Please also contact the members of the Senate Ways & Means Committee Urging them to OPPOSE SB 5096.

Please take action right away.

Additional Information and Talking Points to Follow

Senate Ways & Means Committee Members: