Budget & Taxes

House Bill 1858 eliminates a specific exemption from two existing document recording fees for certain real estate transactions. Previously, assignments or substitutions of previously recorded deeds of trust were exempt from these charges. With this bill, individuals and entities recording these types of documents will now be subject to a $100 covenant homeownership program assessment and an additional $183 document recording surcharge. The collected funds from these fees contribute to various state and local housing initiatives, including affordable housing and homeless housing programs.

SJR 8201 proposes a constitutional amendment to allow the state to invest moneys from the fund dedicated to long-term care services and supports. This change would directly affect eligible seniors and people with disabilities who receive these services by potentially enhancing the fund's resources. The bill amends Article XXIX, section 1 of the state Constitution to permit the investment of these funds, similar to other public trust funds. Any investment income generated would be specifically dedicated to long-term services and supports for program beneficiaries. This proposed amendment will be submitted to the state's qualified voters for their approval or rejection at the next general election.

HB 1060 amends Washington state tax law to exempt newspaper publishers and eligible digital content providers from certain taxes. It specifically applies to businesses primarily engaged in printing/publishing newspapers or producing monthly electronic publications with identifiable authorship (e.g., news sites). To maintain the exemption, businesses must file annual tax reports and reduce the exemption by their business expenditures during the tax period. Failure to comply results in a 0.484% tax on related income, plus retroactive interest. The law took effect July 27, 2025.