Establishing a work group to study the taxation of investment income under RCW 82.04.4281.

HB 2023 creates a work group to study how investment income is taxed under Washington's business tax code (RCW 82.04.4281), following a court decision that created uncertainty about whether investment income qualifies for a tax deduction. The bill temporarily blocks the Department of Revenue from taxing investment income for non-financial businesses (e.g., individuals, arts organizations, or pension funds) until July 2026, while requiring the work group to provide legislative recommendations by November 2025. The work group includes representatives from investment firms, arts organizations, pension funds, business associations, and accounting groups. It expires July 1, 2026, for the tax freeze and November 30, 2026, for the work group.